New Delhi: 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 121 % YoY ( year on year) growth in office rentals in Q3 ( July – September ) 2022
Mumbai was at the 3rd rank in the index, recording 7 % y – o – y growth in office rentals, followed by Delhi – NCR at 14th ank, which remained stable during the period. Jakarta was in the second position with a 10.9 % growth in office rent. Taipei stood at fourth rank with a 6.5 % 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 3.49 rent increase, while Perth was at 9th position with 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 % y – o – y, the fourth consecutive rise.
According to Knight Frank data, the rental growth in Bengaluru, Mumbai and Delhi – NCR remained flat com. pared with the April – June quarter.