)
Among the top 15 global cities, Mumbai office rentals are the lowest, said the new study. Among the top 15 global cities, office rentals in Mumbai are the lowest at Rs. 250 per square feet per month as compared to London and New York which stand at Rs. 900 and Rs. 360 per sq. ft./month respectively, said a new report by global consultant Knight Frank.
"Going forward, Mumbai's office rentals are expected to grow by nearly 15% over the next five years," the report said.
Despite low rents, current vacancy levels within the Mumbai office market lies at 23%, the highest as compared to the top 15 global cities, it said.
"In contrast, rental yields within the city's office market is also the highest at 10.3% as compared to cities like Sydney, Washington and Shanghai which offer rental yields of 6.3%, 6.2% and 6% respectively," it said.
