Tokyo’s Inner Central District overtook London’s West End to become the most expensive office location in the World - with an occupancy cost of $183 per sq. ft. - according to the CB Richard Ellis global office cost survey.

Moscow, Hong Kong’s central business district and Tokyo’s outer central district were in third, fourth and fifth position.

Financial centres around the world have been hit by declining occupier demand. In many cases office occupancy costs have dropped by 20% or more over the last 12 months.