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Three Indian cities – Bengaluru, Delhi and Mumbai – are top prime office yields earners in the world. Among the 34 leading international markets across the globe, Bengaluru topped the chart with 10 per cent annual rental yield, according to a Knight Frank Global Cities - The 2018 Report.
On the basis of current rentals, Delhi and Mumbai followed Bengaluru with 9.2 per cent and 8.5 per cent yields, respectively.
According to the report, among tech districts, Gurgaon's Cyber City with average annual rentals of $20.40 has pipped Madrid's Julian Camarillo area that fetches an average rent of $13.65 and Kuala Lumpur’s Cyberjaya Office Market's $11.55.
Skyscraper index
Mumbai ranks sixth on the Skyscraper Index growth in six months to the quarter ending June 2017, beats London (0.0 per cent), Hong Kong (1.1per cent), Tokyo (0.0 per cent) and Dubai (0.0 per cent) in rental growth.
The flagship global report reveals the trends shaping 40 leading international cities across the globe.
Prime office rents in the upper floors of high rises in Mumbai see 1.8 per cent growth, among the top six international rent appreciating markets. India’s financial capital pips iconic global destinations such as London (0.0 per cent), Hong Kong (1.1 per cent), Tokyo (0.0 per cent) and Dubai (0.0per cent)
Delhi emerged as the most expensive office market in India on the ‘What $100 m could buy?’ index followed by Mumbai.
Samantak Das, Chief Economist & National Director – Research, Knight Frank India, said: “Desires of the talent pool and rising disposable incomes are set to shape our urban environments in the near future. Global cities that are aspirational and successful in encapsulating an inherent wow factor are set to see the most dramatic transformation. We have already seen glimpses of the transformation with a shift in the expectations of mainstream occupiers.”
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