delhi ncr real estate: Delhi-NCR 10th most expensive office market in Asia-Pacific

Delhi-NCR was ranked 10th in the list of Asia-Pacific’s most expensive office markets, according to Knight Frank. In its Asia-Pacific Office Rental Index for the second quarter (April-June) 2022, property consultancy Knight Frank said the prime nominal rent for commercial office space in Delhi NCR was recorded at 51.6 USD per square foot per year.

Hong Kong SAR is the most expensive office market in APAC with an annual rent of $175.4 per square foot.

Mumbai ranked 11th with an annual rent of US$45.8 per square foot, while Bangalore ranked 22nd on the list of 23 cities with an annual rent of US$20.5 per square foot.

Bengaluru witnessed the highest increase in prime office rental percentage of 12.1% year-on-year in the second quarter of calendar year 2022.

Shishir Baijal, President and Managing Director of Knight Frank India, said: “As the economy stabilizes after the pandemic, there is an increase in new hires across most industries as well as a move back to the office. which propels the demand for offices in India.

According to the list, Sydney was in second place, followed by Singapore, Tokyo, HCMC (Ho Chi Minh City), Beijing, Melbourne, Perth and Brisbane in that order.

Kuala Lumpur is the cheapest with an annual rent of US$15.6 per square foot.

Jose C. Birney