Property consultant Knight Frank ranks Bengaluru, Mumbai and Delhi as highest prime office yields
Mumbai, Sep 29 : Three Indian metros, namely Bengaluru, Mumbai and Delhi, have earned the reputation of being the highest prime office yields among 34 leading international cities, a report by leading international property consultant Knight Frank said today.
Bengaluru topped the table with 10 per cent yields, followed by Delhi (9.20%) and Mumbai (8.50%) as ‘Tech Districts’· The Whitefield area in Bengaluru was the most affordable tech district among 29 Global Tech Hubs in the world, while ranking 25th on the Tech Districts Index was the Cyber City of Gurgaon.
Whereas, prime office rents in the upper floors of high-rises in Mumbai saw 1.8 per cent growth, among the top six international rent-appreciating markets, stated the fourth edition of Knight Frank’s flagship ‘Global Cities: The 2018 Report’ which was released here.
While per square feet of prime office space in Bengaluru attracted more than half a million — the highest in the world, Delhi emerged as the most expensive office market in India, the report said. Bengaluru emerged as the most valued destination on the Employment and Property Cost Index with total cost (salary plus property) of USD 1,264,000.
Bengaluru and Mumbai topped the chart among 10 future cities in terms of eating out spends, also, the twin metros feature among the top 5 future cities in terms of households with significant incomes.
While releasing the report, Shishir Baijal, chairman and managing director, and Dr Samantak Das, chief economist, Knight Frank India, said, “The global trend holds true for select Indian cities such as Bengaluru and Mumbai.