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New Delhi's Connaught Place Amongst World's Top 10 Expensive Office Markets

Roshni Agarwal

Connaught Place in New Delhi has retained its 9th position in the CBRE's list of top 10 most expensive office markets worldwide. CBRE is a consulting firm operating in the real estate sector and the findings are a part of the company's annual survey released today. The survey, Global Prime Office Occupancy Costs, primarily takes into account the cost involved in leasing office space at a prime location on a worldwide basis.

The report highlights that the cost of office occupancy in CP, New Delhi is $143.97 per sq ft. Bandra Kurla Complex or BKC and Nariman Point Central Business District of Mumbai have been ranked 27th and 40th, respectively. For these locations, the annual prime rent comes to be $90.67 per sq. ft and $68.38 per sq. ft, respectively.

Top 10 Most Expensive Markets

1 Hong Kong (Central), Hong Kong
2 London (West End), United Kingdom
3 Hong Kong (Kowloon), Hong Kong
4 New York (Midtown-Manhattan), US
5 Beijing (Finance Street). China
6 Beijing (CBD). China
7 New York (Midtown-South Manhattan), US
8 Tokyo (Marunouchi/Otemachi), Japan
9 New Delhi (Connaught Place-CBD), India
10 London (City), United Kingdom

From the survey it is inferred that six of the top 10 most expensive office markets globally are present in Asia. And it is for the second time in a row that Hong Kong's Hong Kong (Central) district has bagged the top spot as the most expensive office leasing market globally with the rental of US$ 322 per sq.ft.

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