Delhi and Mumbai lead in Asian rental rates

Singapore, Sept 23: Rents in the Central Business Districts (CBDs) of Delhi and Mumbai are the highest of the main Asian CBDs, including Singapore, Shanghai, Guanzhou and Taipei, property consultants Jones Lang LaSalle (JLL) said.

Delhi CBD topped the list with rents of about 1,100 dollars per sq metre per annum, followed by Mumbai with about 1,500 dollars per sq m, according to a report on Indian Real Estate in Asia released by JLL in Singapore.

Comparative, Singapore CBD rents averaged 950 dollars per sq m, CBD rents in Shanghai was slightly above 600 dollars per sq m, Taipei nearly 400 dollars per sq m and Guangzhou about 300 dollars per sq m.

The industrial property market in Bangalore remained soft because of oversupply. However, according to JLL there is a strong demand which would accelerate the rebounce in Bangalore property within the next six months.

JLL also identified India's new frontiers for industrial properties, namely Chennai, Hyderabad and Pune, followed by the next industrial property development regions of Kolkata, Ahmedabad and Chandigarh.

Overall, India, China and Thailand are for the most part still caught in a demand upswing, said the JLL report.

''This is causing a squeeze in markets across the region with many markets seeing the evolution of trends that are both global and regional in nature,'' it said.

UNI