Tokyo office space world's priciest

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Tokyo passed Hong Kong to become home to the world's most expensive office space, according to a new report on global real estate.


In an annual ranking in U.S. dollars by real estate firm Cushman & Wakefield Inc., the average price of office space in the Japanese capital cost $163.90 a square foot in 2009. That's a drop of 21 per cent compared with 2008, but the pace of decline was less than the previous holder of the top spot, Hong Kong, which dropped 35 per cent to $142.52.



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