Beijing rated world's top office market

Beijing has ranked first among 100 leading global city office markets and won five out of six possible "gold medals", according to a research report released on Aug 22 by US real estate services company Cushman & Wakefield.

In the report, the "gold medals" were awarded to cities with the fastest growth and the strongest rental or yield recovery since the last global downturn.

San Francisco ranked second, with rental values supported by strong demand from its tech-driven economy, while Moscow came third, with the strength of commodities prices aiding its recovery.

Led by the Chinese mainland, Hong Kong, Indonesia and Singapore, Asia became the strongest office market when it comes to the recovery from the global economic recession. Its aggregate office rental values have gained more than 15 percent since 2009, according to the report.

Asia's stronger performance attests to the region's resilient economic landscape that spurred broad-based improvements in the office sector last year which have continued into 2012, said Sanjay Verma, Asia CEO of Cushman & Wakefield.