London’s West End, Mumbai, the City of London and Moscow are the top four most expensive office markets in the world. The report tracks the world’s most expensive markets as well as markets with the fastest growing rents over the past 12 months.

The top ten most expensive markets list is unchanged over the last six months; however, several cities’ rankings have changed. Mumbai’s Nariman Point, at $189.51 (occupation cost in US$/sq. ft./annum used throughout this release), rose three places to second. At $180.78, Moscow joined the top five, jumping two spots to fourth overall. Tokyo’s Inner Central Five Wards and Outer Central Five Wards fell to fifth and sixth, respectively. Midtown Manhattan is the priciest market in North America, at $100.79, and ranks #12 worldwide.

Singapore led the list of markets with the fastest growing office rents, with occupancy costs increasing 83% during the past year. North America accounted for more than one-third of the top 50 markets with fastest growing rents, including two in the top 10: suburban Los Angeles, with year-over-year rent growth of 45%; and Edmonton, Canada, with 43% rent growth over the last 12 months.

In Europe, the rents grew fastest in Moscow, with a 65% increase, and Oslo, with a 49% increase.

Of the 171 office markets monitored, 85% saw rents rise in the 12 months ended September 30, 2007.

Asia Pacific :

Singapore jumped from 24th to 11th most expensive globally, as rents rose to $102.37 over the last 12 months. Occupation costs in Tokyo’s Inner Central Five Wards rose to $178.61, while the Outer Central Five Wards increased to $154.56. Brisbane, Australia joined the top 50 most expensive, coming in at number 47. In terms of rent growth, Mumbai’s Nariman Point posted an increase of 55%.

Europe :

At $328.91, London’s West End once again was the world’s most expensive office market. Occupation costs in that market are 82% higher than the City of London, where occupation costs rose to $180.80, the world’s third most expensive. Also notable in the region was Warsaw, where rents jumped 47% in the last year.

Americas :

Five North American cities are among the world’s Top 50 most expensive office markets: Midtown Manhattan (12th); Calgary Central Business District (CBD) (34th); Toronto CBD (35th); and newcomers suburban Los Angeles (36th) and Downtown Manhattan (46th). Rio de Janeiro rose to $65.35 (33rd), while Sao Paulo inched up two spots to 40th at $59.25.

Top Ten Most Expensive Markets (In US$ per sq. ft. per annum)

1. London (West End), England
2. Mumbai (Bombay), India
3. London (City), England
4. Moscow, Russia
5. Tokyo (Inner Central), Japan
6. Tokyo (Outer Central), Japan
7. Paris, France
8. New Delhi, India
9. Dublin, Ireland
10. Hong Kong

Top Ten Markets with Fastest Growing (In local currency & measure)

1. Singapore
2. Moscow, Russia
3. Mumbai (Bombay), India
4. Manila, Philippines
5. Oslo, Norway
6. Bangalore, India
7. Warsaw, Poland
8. Los Angeles (Suburban)
9. Edmonton, Canada
10. London (West End), England

Texas is the second biggest state in the United States, and it has some of the biggest cities in the United States as well. This means that there are plenty of jobs, but also that there is plenty of crime, pollution, and crowding to deal with when it comes to living in and near these cities. Moving into these areas means hunting for a home in an acceptable neighborhood or a nearby community, but that could mean settling for a home that is not your ideal. For some people, new homes are the only option, and that can make it difficult to choose a house when they are moving to a heavily settled area.

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Communities are going into construction in the heart of the city of Webster, nestled comfortably between Galveston and Clear Lake. The community offers a bit of something for everyone, with plenty of comforts and conveniences for people from all walks of life and with all kinds of differing needs.

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Even better than finding a perfect home for yourself and your family in this kind of area is finding a brand new home to move into, and in Houston, new homes like these are a rare and valuable commodity. You can spend many hours delighting in your brand new community and your easy commute into the city, but only if you act quickly to secure yourself a home and settle into this community.

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Edgewater is the Bay Area’s newest mixed-use, master-planned community on 538 acres in the heart of Webster, Texas. Visit http://www.edgewaterwebster.com for more information.