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Bengaluru, Mumbai and Delhi are the top three cities globally in office rental yields ahead of London and New York. According to a Knight Frank Report while London and New York offer rental yields at four per cent Bengaluru, Mumbai and Delhi offer 10.5, 10 and 9 per cent, respectively . However, the current office rentals in Mumbai and Delhi are lower than the 2007 peak levels by 17 and 19 per cent, respectively; Bengaluru holds forte with an 8 per cent growth.
Mumbai and Bengaluru feature among the list of top five global cites in terms of future rental growth — expected to grow to the tune of nearly 22 and 16 per cent, respectively
Knight Frank launched the second edition of its flagship global report — Global Cities — 2016 on Friday. The report provides a comprehensive outlook for real estate in 21 of the leading business cities and forecasts for the next five years. This time around Bengaluru and Delhi are also a part of the analysis apart from Mumbai which was included last year.
According to the report the Delhi- Mumbai Industrial Corridor (DMIC) finds a place among the top five global infrastructure projects that are expected to create new business clusters and generate unprecedented employment opportunities.
The Indian REIT sector to give a further push to commercial real estate and could attract investments worth $100 bn in the next few years. — TNS
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