• 21 May, 2024

Asia Pacific's most expensive office market: Knight Frank

Asia Pacific's most expensive office market: Knight Frank

In Aisa, where there are numerous employment and international business opportunities, real estate prices are exorbitant. Naturally, renting an office space in these cities is also expensive. In fact, the top 10 most expensive office markets in Asia are listed below; read the full list:

Real estate consultant Knight Frank has recently released its Asia-Pacific Prime Office Rental Index for Q2 (April-June) 2022

‣ Hong Kong SAR

1
 

Hong Kong SAR continued to be Asia’s most expensive office market with an annual rent of $175.4 per sq ft per year.

‣ Sydney

2
 

As per the list, Sydney was ranked at the second position, followed by Singapore, Tokyo, HCMC (Ho Chi Minh City), Beijing, Melbourne, Perth and Brisbane respectively.

Delhi NCR

3
 

India’s national capital Delhi NCR is the 10th most expensive commercial real-estate market in the APAC region, with an annual rent of $51.6 per square foot. Delhi was followed by India’s financial capital

‣ Mumbai

4
 

Mumbai in the eleventh rank, as the commercial property rents stood at $45.8 per square foot per year.

‣ Bengaluru

5
 

Bengaluru also made it to the list at the 22nd position with an annual rent of $20.5 per square foot. The rental value in all three cities is expected to increase over the next 12 months as transaction volumes are expected to pick up going forward, the report added.

With an annual rent of USD 15.6 per square feet Kuala Lumpur is the least expensive office market, as per the report.