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Delhi office rentals second only to Abu Dhabi
India's national capital has become the world's second-fastest growing city in terms of office occupation costs in the year ending March 2007.
Updated : Sep 14, 2017, 04:25 PM IST
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NEW DELHI: With property prices skyrocketing in the country, India's national capital has become the world's second-fastest growing city in terms of office occupation costs in the year ending March 2007, according to a latest report by global realty consultant CB Richard Ellis.
"Abu Dhabi in the United Arab Emirates, scored the first position in the global rankings of fastest growing office occupation costs in the 12 months to the first quarter 2007," CBRE said in the report.
Rents in Abu Dhabi grew at 103 per cent, while the growth in rental values in New Delhi was 79.1 per cent, it said. The rentals in Mumbai grew at 45 per cent and was placed sixth in the ranking.
New Delhi also entered the top 10 list of the most expensive office markets this year.
"London continues to dominate the list of the top 50 global office markets ranked by occupation cost," it said.
The composition of the top 10 is largely unchanged over the last 12 months, the report said, adding that New Delhi was the only new entrant, moving up from 17th place a year ago.
New Delhi has joined Mumbai in the top 10 list. Mumbai has moved to fifth place from seventh.
