Rents In Rio Now Beat New York

Prime office space in Rio de Janeiro has overtaken that of New York for the first time as the most expensive in the Americas on the back of Brazil’s growing economy and its strong currency, according to US realty firm Cushman & Wakefield.

The cost of prime office rentals and associated costs in downtown Rio shot up by to $1,321 per square meter in 2010, compared with $1,260 in midtown New York.

Complete article via Financial Times.

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