High rises

Commercial area8217;s rents are rising fast across the world. But the maximum rise is being seen in emerging countries where fresh investment is pouring in. Of the ten most expensive office locations, seven are in emerging economies.

Mumbai tops the list with an annual cost of rent and other charges add up to 1,691 per square meter. Hong Kong is next with 1,324 per square meter.The Hong Kong market had been depressed for the last two years reflecting the apprehension about the handover to China. But now they have risen from 1,291 in 1996.

Moscow is next with with just under 1,000 per square meter per year. New Delhi is also among the top five with an annual rent of about 900.