Commercial rents in Jersey are more competitive than people think, according to the results of a recent survey.

It shows that office rents in St Helier are lower than 21 other international finance centres.

The survey was carried out by commercial property advisers Insignia Richard Ellis.

The average rent is around �30 per square foot. In Dublin and Manchester the cost is around �7 more.

Jon Carter, one of the company's directors, says that although the demand for office space in the island is slowing down, it is still a popular place to have headquarters.

He also says that fears about shops lying empty in town and unfounded.

He says the retail sector is growing and many UK chains are interested in having a Jersey branch.