Savills’ latest World Cities Review is out, offering some interesting comparisons between the world’s top urban areas.
Savills looked at the overall cost of running a business in each of the cities, with two different types of firm examined: finance and business services, and creative. For the first time this includes the cost of both office space and residential accommodation for staff. The intention is to offer a useful benchmark for globally-mobile companies.
Unsurprisingly, Hong Kong, New York, Paris and London are the priciest cities by Savills’ measure. Although there is an obvious overall correlation between costs for the two types of firms, a couple of variations stand out: Hong Kong looks relatively cheap for creatives, compared to what finance firms pay; and Paris is either over-priced for creatives or underpriced for financial firms.