News
This City May Lose Its Skyscraper Crown
April 13, 2016 • Source: www.cnbc.com • Posted in: Market News
Skyscraper rents in Hong Kong are still the world's highest, but the city is in danger of losing its crown to New York, Knight Frank said.
"New York is closing fast," Knight Frank said in a report Wednesday. "While Asia may be building apace, economic recovery in the U.S. is buoying demand for towers from investors and tenants in the big North American cities."
Hong Kong's office skyscraper rents are around $250 a square foot, up 11.3 percent from July 2014, boosted by a low vacancy rate and . . .