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Delhi-NCR, Mumbai among top 10 APAC office rental markets
The Business Guardian
|November 17, 2024
Delhi-NCR and Mumbai are among the top ten markets in Asia Pacific region (APAC region), driven by demand from Global Capability Centres (GCCs) and India-focused businesses, as observed in Knight Frank APAC Prime Office Rental Index.
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Delhi-NCR secured sixth place in the most expensive office space rental market across the APAC region, the latest edition of the Asia Pacific Prime Office Rental Index for Q3 2024 shows.
Hong Kong special administrative region (SAR) continues to be APAC's most expensive office market during the quarter.
Prime rents in the NCR remained stable in the third quarter (Q3) 2024, while Mumbai and Bengaluru saw year-over-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong occupier demand and limited new supply.
In second quarter (Q2) and (Q3) 2024, combined transaction volumes across these three markets hit consecutive all-time highs.
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