Delhi’s Connaught Place is world’s 7th most expensive office market

According to CBRE Research's Global Prime Office Occupancy Costs bi-annual survey, Delhi's Connaught Place is now world’s seventh costliest office destination, slipping one notch.

As per the property consultant CBRE, Mumbai's BandraKurla Complex (BKC) is at the 19th position and Nariman Point at 34th.

"With annual occupancy cost of USD 149.71 per sq ft, New Delhi's Central Business District (CBD) of Connaught Place ranks as the seventh most expensive prime office market in the world," CBRE said in a statement.

Hong Kong (Central) is the highest-priced office market with an overall prime occupancy costs of USD 290 per sq ft per annum, followed by London-Central (West End) with annual occupancy cost of USD 262.29.

Beijing (Finance Street), Beijing (Central Business District) and Hong Kong (West Kowloon) are at third, fourth and fifth positions, respectively.

Tokyo (Marunouchi/Otemachi), London-Central (City), New York (Midtown Manhattan) and Shanghai (Pudong) featured in the list of top 10 most expensive office markets globally.

According to the survey, Asia continued to dominate the list of the world's most expensive office locations, accounting for seven of the top-10 markets.

Global prime office occupancy costs, which reflect rent, plus local taxes and service charges for the highest-quality, prime office properties, rose 2.4 per cent year-on-year.