Mumbai Now Has The Fourth Most Expensive Office Space
2008-06-04
Mumbai Now Has The Fourth Most Expensive Office Space
According to the world's largest commercial real estate services firm, CB Richard Ellis Group, London's West End with an annual rent of $299.54 per sq ft is the most expensive office space. Mumbai has been knocked down by Moscow and Tokyo, with an annual rental of $ 210.97 per sq ft. Whereas, the capital, New Delhi has climbed one slot up to number seven from last year with an annual rental of $145 per sq ft. According to Mr. Anshuman Magazine, MD CB Richard Ellis, South Asia, the drop is not due to a reduction in the rentals but because of significant rise in the rentals in Moscow and Tokyo. The fourth position is still very high and reflects the tight supply of prime office space in Mumbai and Delhi as compared to the active demand.
