Savills: Creative/IT office rents per person in Sydney are 107% of financial services rents in June 2015.
In its recently published report ’12 Cities: Occupying and investing in world city real estate’, Savills note that, globally, the total annual rent for office space per person paid by a hedge fund is USD22,399. By contrast, the equivalent for a small digital scale-up or creative company is just USD10,453. In Sydney, the corresponding figures are USD9,320 and USD9,986. In June 2015, rents for digital/creative office space were 107% of rents for hedge fund office space. In December 2008, by contrast, digital/creative office space rents were 113% of hedge fund office space rents. Overall rents for both kinds of office space in Sydney rose by 6% from December 2008 to June 2015. Globally, the increase was 1.7% - including a 1.8% fall for hedge fund office rents and an 8.6% rise for digital/creative office rents.
Source : October 2015/Savills/Sydney/OFF