Real Estate
Prime Office Rents In Asia-Pacific Inched Up In Q4; New Dehli Shows Highest Gain
A survey of prime rentals for Asia showed contrasting fortunes for countries such as India and Japan in the last three months of 2015.
A barometer of rentals for prime office locations in the
Asia-Pacific market showed they barely moved in the final three
months of 2015, up only 0.1 per cent on the same period a year
before.
Knight Frank,
in its Asia-Pacific Prime Office Rental Index report,
said eight out of 19 offices it tracks registered rental growth
in the reporting period. Looking ahead, the global property firm
said it predicts rents in 14 cities will rise or remain unchanged
in the next 12 months.
The highest increase was registered in the Connaught Place area
of New Dehli in India, at 7.9 per cent. Hong Kong’s Central
district registered a rise of 4.1 per cent, followed by the
Bandra Kurla Complex sector of Mumbai, up 1.6 per cent, and the
Central Business District of Melbourne, at 1.4 per cent.
Singapore’s Raffles Place and Marina Bay areas fell 2.5 per
cent. Tokyo’s Central 3 Wards area had the largest drop,
down by 7.8 per cent, Knight Frank said.
