Bengaluru Tops in Office Rental Values in whole of Asia
Bangalore, India, is the most expensive city in the Asia-Pacific area in terms of office rent. This is the first quarter of the current year's data. This has also been described as a significant development. This was highlighted in the London-based Knight Frank Consultancy's quarterly study on Asia-Pacific Prime office rent. This has been observed in a total of 23 cities. On that premise, information is currently being released. Bangalore's rental value increased by 5.8% from january to march 2022, according to reports.
Twenty-one of the twenty-three cities have achieved long-term growth. This is attributed to the international economic activity's steadiness. During the quarter, leasing activity in the National capital Region (NCR), particularly in Bangalore and Delhi, India, was reported to be robust. In Asia, the hong kong Special Administrative Region has the highest leasing rates for office space. A one-year rent of $ 186 per square foot is required. The Delhi-NCR region is ranked tenth ($ 60), with mumbai ($ 50.9) and Bangalore ($ 26.7) following closely after.
Bangalore is renowned as India's Silicon Valley. This is due to the increasing number of IT firms. This is why office space is in such high demand in this metropolis.