Between July and September of this year, office rent in Bengaluru increased 12.1% year on year, the largest increase in the Asia Pacific area.
Story so far: Property consultant Knight Frank reported that Bengaluru topped the list for the Asia-Pacific Prime Office Rental Index for Q3 2022 with a 12.10% y-o-y (year-over-year) rise in office rentals in Q3 (July-September) 2022.
- Mumbai ranked third in the index with a 7% year-over-year increase in office rentals, followed by Delhi-NCR at position 14 with a steady ranking over the same time period.
Quarterly publication: A quarterly publication, the Asia-Pacific Prime Office Rental Index, monitors the rental performance of prime office buildings in the region’s major markets. After seeing three consecutive quarters of growth, the Knight Frank Asia-Pacific Prime Office Rental Index stayed stable during the third quarter of the 2022 calendar year. However, the total index is up 2.3% year over year, marking the fourth straight increase.