The Perth CBD has recorded the 13th fastest growth in commercial office occupancy costs in the world in the past year, according to the latest Global Market Rents Survey from CB Richard Ellis.
Office occupancy costs (representing rent, plus local taxes and service charges) increased by 31.9 per cent in Perth in the past 12 months, faster than in any other city in the country.
The survey of 171 cities tracks the world's most expensive markets as well as markets with the fastest growing occupancy costs.
Perth was followed closely by the Brisbane CBD, which was ranked 16 in the Fastest Growing rankings with 30.3 per cent growth in occupancy costs over the period.
Melbourne also recorded rapid growth, with an 18 per cent spike in occupancy costs.
That increase pushed Melbourne up the list to 37 - well ahead of Sydney (62), Canberra (97), and Adelaide (123).
However, it was Brisbane that stole the show by entering the Global Top 50 most expensive rankings for the first time, ranked 47, to take the mantle from Sydney as the most expensive office market in the country.
CB Richard Ellis executive director of research for the pacific region, Kevin Stanley, said the strong growth in Perth office rents underpinned by the resources boom, had helped it move quickly up the Most Expensive Index rankings, but it had just missed out on the Top 50 with a rank of 51.
"Traditionally, the Sydney CBD was the only Australian market to make it into this exclusive list," he said in a statement.
"But not only has Brisbane made it in at #47, it's entered the list above Sydney, which comes in at #48 in the Most Expensive Index rankings."
The semi-annual survey reveals that the cost of occupying office space is growing significantly around the world.
In the past 12 months, 87 per cent of the 170 office markets monitored - including all of the major Australian CBD's - have recorded positive growth in occupancy costs.
Singapore topped the rankings with the fastest growing occupancy costs, recording a staggering 82.6% increase.
Globally, London's West End, Mumbai, the City of London and Moscow are the top four most expensive office markets in the world, according to the CB Richard Ellis report.
