Office space is essentially required to conduct a business. Office space in cities is great problem because of the growing number of businesses and limited space in the city. The city area in city like London is a constant for centuries and that adds to the problem. Since major financial institutions and stock markets and banks are in the London city every other office wishes to be close by that goes on adding to the congestion of the city day by day.
The city of London is made up of commercial office space mainly wherein young start up companies, IT, insurance, finance, recruitment companies and other service based companies like to be placed side by to take advantage of getting business easily. The high demand and growing concentration of business houses raises the rental prices of commercial spaces around city of London and for that matter in any city around the world. The city of London has a significantly higher desk price, commanding monthly rents that often exceed £550 per person. Prestigious buildings command higher and perhaps exorbitant rents sometimes unaffordable by many businesses. The most modern offices with glass and steel combinations command still higher prices and attract the highest bids.
In USA office rents are equally high because of scarcity of commercial space. In Washington Downtown area the rent of an office space in a landmark building with impressive glass panel frontage and rich neighborhood is $1600 to $9300 per month.
Another office in 16th Street of Downtown with equally rich neighborhood and commercial offices command a rent of $1200 to $4000 per month per office. In Capitol Hill of Washington the rent of an office in modern center commands a rent of $1200 to $4400 per month. Clients can complementary membership to a private onsite fitness center. Offices in New York the financial hub of the country commands still higher rents for offices and executive suits.
The United Nation is headquartered there About eight million people reside there to make the city really congested and office space demanding. The city attracts people and businesses from around the world. The city ranks as the thirteenth most expensive city in the world. Residential rates are around $1,000's per square foot. In Manhattan, class a commercial office space commands rent in the ranges from $45 - $150 per sq. feet.
Midtown in North America commands $66 per square feet area of space. In London the commercial space comparatively commands $300 per square feet. Moscow and Tokyo commands very high rates for office spaces. Executive suits in big cities are exorbitantly costly. Midtown in Manhattan is also very costly. Grand Central station and Penn station are very popular choices for office spaces in New York by the commuters. Therefore the rents for offices and executive suits in these area have been increasing daily. In India also with the growth of the economy Offices space are in great demand particularly in Mumbai, Bangalore, New Delhi and Pune. The prices of real estate and rents of office space have sky rocketed for last few years. Japan is one of the costliest places. Real estate in Tokyo is scarce and office spaces on rents are very costly.