Delhi-NCR is the sixth most expensive market among the major office markets of Asia Pacific. The annual cost of renting office space here stood at $78.4 per square foot in the July-September quarter. According to real estate advisory firm Knight Frank, location costs include rent, local taxes and other charges.
Knight Frank has released Asia-Pacific’s leading office rent index for the third quarter of the current calendar year. Hong Kong SAR continues to top the list of APAC’s most expensive office markets in the September quarter. Its space cost is $164.7 per square foot.
Mumbai is at ninth position in this list with $70.5 per square foot. Another Indian city Bengaluru is at 19th place in this list of 23 cities at the rate of $36.1 per square foot. Singapore is at second place in this list. After this there are Sydney, Tokyo and Seoul. Beijing is in seventh place, Ho Chi Minh City is in eighth place and Shanghai is in 10th place.
Before this, Enrock had claimed in a report that there has been a huge increase in the demand for houses worth more than Rs 1.5 crore in Delhi. Along with this, it was also told in the report that during January-September this year, the sales of luxury residential units in seven major cities have more than doubled to 84,400 units, which was 39,300 units in the same period last year.
According to Anarock data, sales of luxury homes in Hyderabad tripled to 13,630 units during January-September this year, from 3,790 units in the same period a year ago. During the period under review, sales of luxury homes in Bengaluru increased from 3,810 to 9,220 units.
Sales of luxury residential units in the Mumbai Metropolitan Region (MMR) increased by 74 percent from 20,820 to 36,130 units. Sales of luxury homes in Pune almost tripled from 2,350 units to 6,850 units. Sales of luxury homes in Chennai increased from 1,370 to 3,330 units.
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