Hong Kong flight from expensive business district Residential property prices in Hong Kong are among the highest globally. Research from ECA International has found that the city is the most expensive location in the world to rent a high-end, three-bedroom apartment. Expats are partly to blame for the sky-high prices, which prompted the Hong Kong government last year to introduce a 15 per cent stamp duty for foreigners buying property. Lee Quane, ECA's regional director for Asia, said: "Expatriates often gravitate towards particular areas of cities because of the location of international schools, embassies or social focal points. These tend to be the more expensive, prestigious areas in a city. Looking at global office rents, London's West End is the world's priciest district despite its rents remaining stable last year at £14,900 per workstation annually. Geneva was third and Tokyo fourth. Hong Kong's cost per workstation dropped to £14,100. However, DTZ predicts prices will flatten out this year. David Ji Yanxun, head of Greater China research at DTZ, said: "I think office rents in Central should remain stable this year after the decline last year, as the mainland economy is still doing quite well and with some mainland companies still looking for offices in Hong Kong."