Delhi-NCR emerges as the fifth most expensive office rental market in the Asia Pacific, driven by consistent rental performance and robust leasing activity.
Delhi-NCR has solidified its position as a prime commercial hub by securing the fifth spot in the Asia Pacific region’s most expensive office rental market. According to the latest report by property consultancy firm Knight Frank, the region’s prime office rent stands at a robust Rs 340 per square foot per month. While Hong Kong SAR maintains its top position, Delhi-NCR’s consistent rental performance over the past six quarters underscores its attractiveness to corporate occupiers.
The report further highlights that leasing activities in India’s top three office markets – Bengaluru, Delhi-NCR, and Mumbai – have surged by 50% in the second quarter of 2024 compared to the previous year. This surge is attributed to a combination of factors including increased employee return to offices and a thriving business environment.
