In the Asia-Pacific, Delhi-NCR has the tenth-highest commercial real estate costs, according to Knight Frank’s Asia-Pacific Prime Office Rental Index for Q2 2022. The city’s rent for office space for businesses was $51.6 (Rs 4,078) per square foot.
According to Knight Frank, with an annual rent of $175.4/sqft, Hong Kong SAR is still Asia’s most expensive office market. In the June 2022 quarter, Bengaluru experienced wide rental growth in the Asia Pacific, at 12.1%, followed by Mumbai, at 7% year over year.
The APAC office rental index increased by 1% quarter over quarter (q-o-q), continuing a two-quarter streak of growth. The entire index has increased by 2% from last year. In the second quarter of 2022, 17 of the 23 cities tracked by Knight Frank’s Asia-Pacific Prime Office Rental Index reported stable or rising rents, down from 21 in the first quarter.