The West End was declared the most high-priced office space this year and it is followed by Geneva, Hong Kong, Washington and Tokyo in the top five. Even though the rents are falling all over the world even now, but since there has been some steadiness, West End was able to come out on top.

DTZ Holdings Plc was the company that computed the results and it was discovered that West End had left behind Tokyo, Dubai, Paris and Hong Kong and it was further expected that it would be holding the spot till at least 2013.

From 2002 to 2008, West End assumed the first place as the most expensive rent a desk space but then slowly fell behind reaching the fifth spot. However, in 2009 when its rent rose to £13,289, it quickly became number one again.

The recession had triggered off the beginning of the fall in rent along with the reduction in the requirement for office space as companies were letting go of employees to cut costs. This was especially true of Singapore, where there was not only a fall in rent, but there was an increase in the number of new office spaces at the same time.

Places like Midtown New York, Hong Kong, Paris and Dubai that are supposedly high-class also experienced problems as their rent fell low by 20% whereas Tokyo only saw a fall of 8% when calculated in terms of dollars.

It is believed that the power of the European pound played an important role in helping the West End snatch the first place.