Prime Office Rents In Asia-Pacific Inched Up In Q4; New Dehli Shows Highest Gain

Tom Burroughes

25 February 2016

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.

, 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.