London beats big apple

London office rents fall twice as fast as New York...

Office rents in London are plunging at twice the rate of those in New York according to NB Real Estate.

London rents fell 24 per cent last year compared with just 12 per cent in New York. Rents n Mayfair and St James's faired even worse, falling 29 per cent thanks to the crisis hitting the hedge fund industry.

Source: www.propertyweek.com