According to the latest edition of the Knight Frank Prime Global Rental Index.
The index was topped by Nairobi, Kenya where rents rocketed by over 17 percent in the year and by five percent in Q2 2012.
Tel Aviv, Guangshou, New York's Manhattan and Shanghai also performed strongly to be included in the top five.
Although the index recorded annual growth of 2.3 percent in the year to June, this modest performance remains some way off the double-digit growth seen pre-2008, suggesting that the prevailing economic conditions continue to impede growth.
Jemma Scott, Knight Frank’s head of corporate services, said Manhattan prime rents are at their highest since the recession.
She added that future rental growth is likely to be focused on the world’s developing markets as business globalisation increases.
"Nairobi, Tel Aviv and Guangzhou’s positions at the top of the rankings this quarter are not incidental. In sharp contrast to many western economies, Kenya, Israel and China are forecast to see chunky GDP growth, due in large part to a surge in foreign investment," she said.
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