London is well known as being one of the most expensive cities in the world in which to rent serviced office and conventional office space solutions. However, as the recession took hold this year the prices of London offices started to fall drastically and many London offices were left standing empty.

Cheaper prices for London offices meant that businesses were able to afford to branch out, or start up; when in previous months they would have struggled. There may be a recession gripping the world's economy, but that very same recession has meant good news for businesses looking for London offices.

A recent survey also revealed that businesses already in London offices are taking advantage of the reduced rents by staying put for longer. The figures from one of the leading office space providers showed that the average duration of tenancy in London offices had increased by 10% since 2007.

Prices for London offices have reportedly fallen by 44% since 2007 and are expected to reach an all-time low by the end of the year, giving new businesses the perfect opportunity to branch out in the midst of recession.

It has been estimated that London office rents won't reach the heights they saw in 2007 for between four and five years.

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