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IT hub Bengaluru tops office-rental gains in Asia, Tokyo second: Report

Bengaluru posts 7% gain in office rents in second quarter: Knight Frank

Pooja Thakur Mahrotri | Bloomberg 

Bangalore airport

The southern Indian city formerly known as topped Knight Frank’s office-rent index with a 7 percent hike in rates in the three months ended June versus the quarter prior. Tight supply pushed up costs as large companies jostled for quality space, according to the report. came in second with a 5.5 percent gain followed by and

“Steady demand in the prime office market is expected to bolster rental growth for the second half,” said Nicholas Holt, Knight Frank’s head of research for Asia-Pacific. “Despite several headwinds, including tensions around trade, regional continues to fuel demand for grade-A

Office rents in cities including Sydney, Hong Kong and Singapore are expected to see marginal increases for the rest of 2018, while those in Tokyo, Shanghai and Kuala Lumpur will be flat to down.

First Published: Tue, September 04 2018. 21:18 IST