Hong kong skyscrapers most expensive in the world

Photo: Knight Frank

The report, launched this month, takes a new approach to evaluating the worth of the towers, which are now so prevalent in global cities. Indeed, a skyscraper is a sign of economic development as well as architectural achievement, with new developments hogging news headlines and viewing platforms turned into tourist attractions.

But while height is a popular measure of the world's top towers - with Dubai's Burj Khalifa now under threat - Knight Frank's rankings focus on the value of the most expensive part of the building: the upper floor.

"Upper floors typically command premium pricing in the leasing market, achieving what are referred to as ‘nose bleed’ rents in Manhattan," says Knight Frank.

Asian skyscrapers dominate the top 10, with Hong Kong boasting the title of the world's most expensive prime skyscraper office space, with a value of US$69,222 per square metre.

“While Hong Kong and Tokyo are too far ahead to lose first and second place, I see some competition amongst Manhattan, London and Singapore in the coming year," coments James Roberts, Head of Commercial Research at Knight Frank.

"In London there is renewed confidence thanks to better than expected economic growth and rising rents in the office market, and I suspect London could overtake Singapore. Given the economic uncertainty in emerging markets, in 2014 we will probably see some of the Asian cities slide down the table, and more western cities on the rise."

The next time you find yourself comparing the heights of towers, remember: size is not everything.