Renting an office in Mumbai costs more than one in London, Dubai: Knight Frank

Bengaluru's Whitefield, Gurgaon's Cyber City were among the most affordable ones

Three Indian metros - Bengaluru, Mumbai and Delhi - have earned the highest prime office yields among 34 leading international markets, a Knight Frank report said on Thursday.

The flagship global report reveals the trends shaping 40 leading international cities across the globe.

Bengaluru topped the table with 10 per cent yields followed by Delhi at 9.20 per cent and Mumbai 8.50 per cent, the report said.

Bengaluru's Whitefield is the most affordable technology district among 29 global tech hubs in the world, the report noted.

Ranking 25th on the Tech Districts Index, Gurugram's Cyber City at $20.40 per sq ft beat Madrid's Julian Camarillo area at $13.65 per sq ft and Kuala Lumpur's Cyberjaya Office Market $11.55 per sq ft in office rents, it further said.
 

In the Skyscrapers Index, Mumbai ranks sixth in terms of growth in six months to the second quarter in 2017. "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," the report said.

The India's financial capital pipped iconic global destinations such as London, Hong Kong, Tokyo and Dubai, it added.

Established office markets such as Singapore and Kuala Lumpur, on the other hand, saw negative growth.

Bengaluru emerged as the most valued destination on the Employment and Property Cost Index with total cost (salary and property) of $1,264,000, the report said.

In terms of eating out spends, Bengaluru and Mumbai topped the chart among 10 future cities, and among the top five cities in terms of households with significant incomes.