LONDON and Tokyo remain the world's most expensive office locations, according to a global property report showing rents falling in most of the world's major cities in 2002.

With the depreciation of the US dollar against the euro and the British pound, six of the 10 most expensive locations are in Western Europe, while New York's Midtown area is the only US location on the list.

The top five most expensive office districts in the world, with prices in US dollars per square foot per annum are London's West End (146.70), London City (118.60), Tokyo's Central Five Wards (91.90), Paris (81.40), and Edinburgh (67.30). - Sapa-