Silicon Valley has seen office rents nearly double in the lastyear alone, skyrocketing 43 percent. And occupancy costs have risen30 percent in the last six months alone, according to thesemi-annual Global Market Rent Survey released this week by RichardEllis Global Research and Consulting. The area now ranks 13th mostexpensive among world office-space markets, with space averaging$57 per sf.
According to the report, San Francisco has broken into the top10 most expensive world markets for office tenants, with averageannual occupancy costs rising more than 26 percent to $64.70 per sfduring the first six months of this year.
Occupancy costs in San Francisco have risen 36 percent over thelast year. But Tokyo still remains the world's most expensive cityfor office-seekers at an average $155 per sf.
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