Bengaluru Has Highest Office Rent in Asia-Pacific

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With 7% quarter-on-quarter increase, Bengaluru has topped the Asia-Pacific Prime Office Rental Index in Q2 2018. However, for other markets in India, such as Mumbai and Delhi-NCR, rental growth remained flat this quarter. Shortage of quality spaces has led to a 7% quarteron- quarter rental growth in Bengaluru’s Central Business District (CBD) in Q2 2018. Corporate occupiers are jostling for quality space within the tightly supplied CBD and off- CBD districts, with many of them navigating the issue by pre-committing to upcoming supply. Similarly, in Mumbai where the rentals have remained unmoved this quarter, limited supply is likely to lead to rental growths in the ensuing period.