Today we are taking a look at ten of the most expensive cities to rent an office. While some of these might not be the biggest cities by any means, they are some of the fastest growing and their office rent costs rise as they do…
10 – Copenhagen (Average Office Rent Per sq ft: £124)
Office Renting Tip: You likely want to make your first office your own. But most landlords probably don’t want you knocking down walls and completely changing their buildings.
9 – New York (Average Office Rent Per sq ft: £125)
Office Renting Tip: Do you want an open concept or more closed-off work spaces? Different bosses and teams have different preferences. So think about what style would suit your team best and choose an office that lends itself to your preferred layout.
8 – Paris (Average Office Rent Per sq ft: £126)
Office Renting Tip: However, a bit of extra space can be a good thing, especially if you plan to grow within the length of your lease. Even a few extra cubicle spaces or some room to add a few desks can be helpful.
7 – Geneva (Average Office Rent Per sq ft: £130)
Office Renting Tip: Of course, you will need a large enough space for the members of your team to each have a desk or place to sit. But you don’t want something so large that you’re paying for entire rooms that you never use.
6 – Seoul (Average Office Rent Per sq ft: £131)
Office Renting Tip: The building itself should offer some amenities as well. To keep you, your employees and your equipment safe and secure, find out if the building has a security guard, manned entry way and after-hours security.
5 – Osaka (Average Office Rent Per sq ft: £141)
Office Renting Tip: The process of looking for office space can be overwhelming for a newbie. But if you find a commercial real estate agent or broker who is familiar with the properties in the area, they can make the whole process a lot easier.
4 – Tokyo (Average Office Rent Per sq ft: £146)
Office Renting Tip: Repairs for your space can also represent a significant expense. If your landlord is responsible for those expenses, make sure they are willing to take care of them in a timely manner. But if you are, make sure there’s some wiggle room into your budget.
3 – Zurich (Average Office Rent Per sq ft: £151)
Office Renting Tip: There are a lot of expenses that go into renting an office space. The actual rent is just part of it, when it comes to most properties. And those extra expenses can really add up if you don’t account for them in your original budget.
2 – Hong Kong (Average Office Rent Per sq ft: £169)
Office Renting Tip: After location, cost is likely your next big concern. Don’t choose an office that is going to put your business too far into debt and stunt its growth. Crunch the numbers before you even start looking to find a budget that will allow you to operate comfortably.
1 – Singapore (Average Office Rent Per sq ft: £189)
Office Renting Tip: You also have to keep clients in mind when choosing a location. Is the office building you’re considering easily accessible from freeways or public transportation? Will they be able to find it easily?