Ben­galuru best for rentals

HT Estates - - FRONT PAGE - HT Es­tates Cor­re­spon­dent

Ben­galuru has emerged as one of the top three global des­ti­na­tions for rent and cap­i­tal value ex­pec­ta­tions ac­cord­ing to a sur­vey by the Royal In­sti­tu­tion of Char­tered Sur­vey­ors (RICS).

With re­spect to 12 month cap­i­tal value ex­pec­ta­tions, the most buoy­ant pro­jec­tions were posted in Dublin, Ben­galuru and Bu­dapest, ac­cord­ing to the third quar­ter 2015 RICS ma­jor cities com­mer­cial prop­erty mon­i­tor.

“Ben­galuru has been con­sis­tently per­form­ing bet­ter than other re­gions in In­dia for many years now. The city has low in­ven­tory as pro­ject sizes are rel­a­tively smaller in com­par­i­son to Mum­bai and Delhi NCR. De­vel­op­ers are not car­ry­ing high debt, ex­e­cu­tion and de­liv­ery of projects are on time and there is a healthy de­mand of grade A of­fice space. Many new start-ups, e-com­merce, IT and ITes com­pa­nies are look­ing to ex­pand their op­er­a­tions in Ben­galuru,” said Dev­ina Ghildial, managing director, south Asia, RICS.

Mean­while, for In­dian rank­ings, Mum­bai was at t he sec­ond po­si­tion and Delhi NCR at third, but all three re­gions have “Strength­en­ing Oc­cu­pier and Strength­en­ing In­vest­ment”. In fact, cap­i­tal val­ues are an­tic­i­pated to rise, to a greater or lesser de­gree, in 21 of the 32 cities for which RICS has data dur­ing the com­ing 12 months.

The RICS com­pos­ite in­di­ca­tors, cov­er­ing de­vel­op­ments in over­all oc­cu­pier (OSI) and in­vest­ment (ISI) mar­ket con­di­tions, high­light Dublin as a stand­out per­former. The most neg­a­tive rent ex­pec­ta­tions were re­ported in Sao Paulo, Sin­ga­pore, Perth, Zurich, Geneva and Warsaw.

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