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Bengaluru, Delhi, Mumbai top in prime office rental yields globally: report

LiveMint logoLiveMint 28-09-2017 PTI

Mumbai: Three Indian metros — Bengaluru, Mumbai and Delhi — have earned the highest prime office rental yields among 34 leading international markets, a Knight Frank report said on Thursday.

The flagship global report reveals the trends shaping 40 leading international cities across the globe. Bengaluru topped the table with 10% yields followed by Delhi at 9.20% and Mumbai 8.50%, the report said. Bengaluru’s Whitefield is the most affordable technology district among 29 global tech hubs in the world, the report noted.

Ranking 25th on the Tech Districts Index, Gurugram’s Cyber City at $20.40 per sq. ft. beat Madrid’s Julian Camarillo area at $13.65 per sq. ft. and Kuala Lumpur’s Cyberjaya $11.55 per sq. ft. in office rents, it further said.

In the Skyscrapers Index, Mumbai ranks sixth in terms of growth in six months to the second quarter in 2017. “Prime office rents in the upper floors of high rises in Mumbai see 1.8% growth, among the top six international rent appreciating markets,” the report said.

India’s financial capital pipped iconic global destinations such as London, Hong Kong, Tokyo and Dubai, it added. Established office markets such as Singapore and Kuala Lumpur, on the other hand, saw negative growth.

Bengaluru emerged as the most valued destination on the Employment and Property Cost Index with total cost (salary and property) of $1,264,000, the report said. In terms of eating out spends, Bengaluru and Mumbai topped the chart among 10 future cities, and among the top five cities in terms of households with significant incomes.

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