Bengaluru, Delhi and Mumbai CBDs top prime office yields earners in the world: Knight Frank Global Cities - The 2018 Report


Ø  Bengaluru’s Whitefield is the most affordable tech district among 29 global tech hubs in the world.
Ø  Gurugram’s Cyber City (USD 20.40) pips Madrid’s Julian Camarillo area (USD 13.65) and Kuala Lumpur’s Cyberjaya Office Market (USD 11.55) in office rents.
Ø  Mumbai ranks 6th on the Skyscraper Index growth in six months to the quarter ending June 2017, beats London (0.0%)Hong Kong (1.1%)Tokyo (0.0%) and Dubai (0.0%) in rental growth
Mumbai, September 28, 2017Knight Frank presents the future of real estate worldwide in the fourth edition of the Global Cities: The 2018 Report. The flagship global report reveals the trends shaping 40 leading international cities across the globe.
Key Findings:
Overview
·         Three Indian metros Bengaluru, Mumbai and Delhi earned the highest prime office yields among 34 leading international markets.
·         Bengaluru topped the table with 10% yields followed by Delhi (9.20%) and Mumbai (8.50%)
PRIME OFFICE YIELDS INDEX
Ranking
City
Prime office yield
1
Hong Kong
2.70%
2
Paris
3.00%
3
Zurich
3.00%
4
Berlin
3.25%
5
Tokyo
3.30%
6
Singapore
3.30%
7
Frankfurt
3.80%
8
Madrid
3.90%
9
Amsterdam
4.00%
10
London (City)
4.25%
11
New York
4.30%
12
Dublin
4.50%
13
San Francisco
4.50%
14
Boston
4.60%
15
Seoul
4.66%
16
Los Angeles
5.00%
17
Seattle
5.00%
18
Sydney
5.06%
19
Washington DC
5.10%
20
Melbourne
5.25%
21
Miami
5.50%
22
Shanghai
5.60%
23
Chicago
5.60%
24
Austin
5.80%
25
Manila
5.90%
26
Beijing
6.00%
27
Dallas
6.00%
28
Brisbane
6.38%
29
Kuala Lumpur
6.50%
30
Bangkok
7.00%
31
Pittsburgh
7.50%
32
Mumbai
8.50%
33
New Delhi
9.20%
34
Bengaluru
10.00%

TECH DISTRICTS

·         Bengaluru’s Whitefield is the most affordable tech district among 29 global tech hubs in the world.
·         Ranking 25th on the Tech Districts Index, Gurugram’s Cyber City (USD 20.40)beats Madrid’s Julian Camarillo area (USD 13.65) and Kuala Lumpur’s Cyberjaya Office Market (USD 11.55) in office rents.
Sr no
City
Tech District
Prime Rent (US$ per sq ft)
1
London
Shoreditch
90.75
2
San Francisco
Mid-Market
77.00
3
Dublin
Docklands
76.30
4
Bangkok
CBD : Rama 1, Sathorn, Sukhumvit Soi 21
74.25
5
Paris
1st, 2nd and 9th Districts (Cité Financière)
74.00
6
Boston
Seaport District
72.00
7
Los Angeles
Playa Vista
62.00
8
New York
Brooklyn
56.05
9
Beijing
Zhongguancun
55.05
10
Washington DC
NoMa (North of Massachusetts Avenue)
51.25
11
Austin
The Domain
44.50
12
Seattle
South Lake Union
44.00
13
Dubai
Dubai Media City
43.55
14
Singapore
One North
41.45
15
Berlin
Potzdammer Platz
40.70
16
Toronto
King & Spadina
39.90
17
Hong Kong
Cyberport, Pokfulam
36.90
18
Miami
Coconut Grove
35.00
19
Chicago
Fulton Market District
35.00
20
Amsterdam
City Centre
34.45
21
Sydney
Pyrmont
33.80
22
Melbourne
Richmond
32.05
23
Shanghai
Zhangjiang Hi-Tech Park
27.50
24
Mexico City
Santa Fe
27.30
25
Delhi
Gurugram (Cyber City)
20.40
26
Seoul
Guro-gu (Guro Digitial Complex) & Geumcheon-gu (Gasan Digital Complex)
14.65
27
Madrid
Julian Camarillo area
13.65
28
Kuala Lumpur
Cyberjaya Office Market
11.55
29
Bengaluru
Whitefield
9.65

SKYCRAPER INDEX

·         Mumbai ranks 6th on the Skyscrapper Index growth in six months to Q2 2017
·         Prime office rents in the upper floors of high rises in Mumbai see 1.8% growth, among the top six international rent appreciating markets
·         India’s financial capital pips iconic global destinations such as London (0.0%), Hong Kong (1.1%), Tokyo (0.0%) and Dubai (0.0%)
·         Established office markets such as Singapore (-0.9%) and Kuala Lumpur (-0.8%) see negative
Sr no
City
Rent (US$ / sq ft / per annum)
% growth in six monthsto Q2 2017*
Growth rank
1
Hong Kong
$304
1.1%
9
2
New York (Manhattan)
$162
1.8%
7
3
Tokyo
$140
0.0%
10
4
San Francisco
$117
3.5%
4
5
London (City)
$110
0.0%
10
6
Sydney
$107
3.4%

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