Bengaluru sees highest office rental growth across APAC; rent up 12.1 per cent in September quarter  | The Financial Express

Bengaluru sees highest office rental growth across APAC; rent up 12.1 per cent in September quarter 

In its Asia-Pacific Prime Office Rental Index for Q3 2022, property consultant Knight Frank said that Bengaluru topped the list with 12.10 per cent y-o-y (year-on-year) growth in office rentals in Q3 (July-September) 2022.

Bengaluru sees highest office rental growth across APAC; rent up 12.1 per cent in September quarter 
Mumbai was at the 3rd rank in the index, recording 7 per cent y-o-y growth in office rentals, followed by Delhi-NCR at 14th rank, which remained stable during the period. (Representational image)

Office rent in Bengaluru rose 12.1 per cent 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 per cent y-o-y (year-on-year) growth in office rentals in Q3 (July-September) 2022.

Mumbai was at the 3rd rank in the index, recording 7 per cent y-o-y growth in office rentals, followed by Delhi-NCR at 14th rank, which remained stable during the period. Jakarta was in the second position with a 10.90 per cent growth in office rent. Taipei stood at fourth rank with a 5.50 per cent increase in rent, followed by Singapore with a 5.3 per cent rise, Brisbane with a 3.9 per cent appreciation and Seoul with a 3.7 per cent rise.

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Sydney ranked 8th with a 3.40 per cent rent increase, while Perth was at 9th position with 2.4 per cent rental growth and Shanghai at 10th rank with 1.9 per cent 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.

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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 per cent y-o-y, 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.

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First published on: 21-11-2022 at 15:32 IST