New York, HK offer world's lowest office yields
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HONG Kong and New York offer the lowest returns for offices among the world's major markets even as prices increase because of demand for high-quality properties, according to broker Savills plc.
Grade-A commercial properties in Hong Kong's central business district yielded 2.85 per cent and New York's 3.29 per cent after excluding tenant incentives, the Savills/Deakin University World Office Yield Spectrum, released on Monday, showed. San Francisco and Singapore had the highest effective yields, at 5.39 per cent and 4.85 per cent respectively.
