Latest statistics released demonstrate that the West End in London has overtaken Tokyo to be the priciest place in the world to lease office space.

A study searched into the industrial property marketplaces and office rental costs in 105 global markets and discovered that the price of hiring West End London office space reached £85 per square ft by the end of 2010, that is a 31% improve on prices at the start of the year. Since the end of 2010, rents in the West End have carried on to increase and also have now arrived at £90 per square ft.

Second place Tokyo had beaten the West End in 2009 after the fall of Lehman Brothers, but the poor financial overlook for Japan has led to better vacancy rents and rents dropping. City of London office rental seemed to be in the top ten most high-priced placesin the world, considering the list completed by Hong Kong, Moscow, Paris, Singapore, Sydney, Mumbai and Lagos.

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