Biz talk

HK occupancy cost highest

Hong Kong took the top spot in a ranking of the highest occupancy costs in the world, with an average occupancy cost of $178 per sq ft per year, Colliers International, a global real estate services company, said in a recent report. The report said all regions reported higher vacancies. Hong Kong and Shanghai reported vacancies that were double than that during mid-year 2008. The vacancy rate in Hong Kong and Shanghai rose to 4 percent and 10.2 percent, respectively, at the end of 2008.

Steel price forecast