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London becomes most expensive city for homes and office space


economy

London becomes most expensive city for homes and office space

London has overtaken Hong Kong to become the world’s most expensive city for companies to send their employees to live and work in.

That is based on the combined cost of renting home and office space in the British capital.

Hong Kong has held the number one spot for the last five years, but dropped because of falling rents and a weakening currency.

Rounding out the top five are New York, Paris and Tokyo.

The property company that did the calculations cited the stronger pound as a big factor but also noted London property prices are up 18.4 percent in the past year alone.

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