World's Highest Office Yields Are in India, Knight Frank SaysBy
Three Indian cities offer the highest yields for prime office space as a shortage of supply allows owners to push up rents, according to Knight Frank LLP.
Technology hub Bengaluru earned the highest yield at 10 percent, followed by New Delhi and Mumbai at 9.2 percent and 8.5 percent respectively, according to ‘Global Cities: The 2018 Report,’ released Thursday. Hong Kong offered the lowest yield of the 34 cities, at 2.7 percent, behind Paris and Zurich, both at 3 percent, the report showed.
“India’s office market witnessed a stellar run in 2016,” Viral Desai, Knight Frank India’s national director, occupier solutions group, said in the report. “Emerging trends such as co-working space-providers have continued to whip up demand in the supply-deprived market.”
Bengaluru’s Whitefield area was ranked the most affordable technology district among 29 global tech hubs, according to Knight Frank.