Bengaluru best for rentals
Bengaluru has emerged as one of the top three global destinations for rent and capital value expectations according t o 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.