Bengaluru Sees Highest Growth In Office Rentals In Asia-Pacific In July-September
Jakarta was in the second position with a 10.90% growth in office rent.
Office rent in Bengaluru rose 12.1% year-on-year in July-September this year, the highest in the Asia Pacific region, according to Knight Frank.
In its Asia-Pacific Prime Office Rental Index for Q3 2022, property consultant Knight Frank said that Bengaluru topped the list with 12.10% year-on-year growth in July-September 2022.
Mumbai was ranked third, recording 7% growth over a year earlier, followed by Delhi-NCR at 14, which remained stable during the period.
Jakarta was in the second position with a 10.90% growth in office rent.
Taipei ranked fourth with a 5.50% increase in rent, followed by Singapore with a 5.3% rise, Brisbane with a 3.9% appreciation and Seoul with a 3.7% rise.
Sydney ranked 8th with a 3.40% rent increase, while Perth was at 9th position with 2.4% rental growth and Shanghai at 10th rank with 1.9% appreciation.
Asia-Pacific Prime Office Rental Index is a quarterly publication, which tracks the rental performance of prime office properties across key markets in the Asia Pacific region.
During the third quarter of the 2022 calendar year, Knight Frank’s Asia-Pacific Prime Office Rental Index remained stationary quarter-on-quarter after observing three consecutive quarters of expansion. However, the overall index is up 2.3% year-on-year, the fourth consecutive rise.
According to Knight Frank data, the rental growth in Bengaluru, Mumbai and Delhi-NCR remained flat compared with the April-June quarter.
