Due to a lack of availability office prices in London are expected to rise by approximately 43%.
The forecast by Knight Frank estate agents predicts that the average cost of renting an office within London will rise from £44 per sq ft to £52.50 per sq ft by the end of 2010.
Although the average price for offices varies across the city, increases are expected within specific London areas.
In the City of London office rent is expected to rise by 19% this year, whereas in the West End this is only an 11.5% increase. However, this means that the cost will be £72.50 per sq ft rather than the current £65 per sq ft.