Office rents seem steep? It could be much worse

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What costs more in New Dehli, Warsaw and Ho Chi Minh City than it does in Los Angeles? Office space. As much as tenants here like to complain about office rents, they are far cheaper in L.A.’s most expensive neighborhoods than they are in most other international cities, according to a recent report by real estate brokerage CB Richard Ellis.

In fact, Los Angeles’ Westside, the region’s most expensive office market, barely cracked the top 50. The only cities on the list that were cheaper than L.A. as of March 31 were Toronto, Washington, D.C., Athens, Brussels and Beijing.

In a sign that the Japanese economy continues to mend, the inner central district of Tokyo edged out London’s West End this year to take the top spot as the most expensive location for a business to set up shop. Those Tokyo rents are $183.62 per square foot per year, compared to $172.62 in London and $52.82 on L.A.’s Westside. Rounding out the top five were Moscow, Hong Kong and the outer central district of Tokyo.

The most expensive market in the U.S. was New York’s Midtown district, which came in 21st at $68.63, right behind Ho Chi Minh City and Geneva.

-- Roger Vincent