Jump to Navigation

Mumbai office space world's 5th most expensive

Mumbai is more expensive than New York, Moscow, Paris and Milan in terms of office space according to a new report from Cushman & Wakefield
 
Mumbai real estate Fancy converting a neo gothic style apartment in Colaba into your design studio? Act earlier not later this year.

According to a new report issued by global property consultants Cushman & Wakefield, office market rents decreased by 16 percent in the Asia Pacific region last year. In Mumbai Worli was worst hit.

But India's financial capital is still costlier than New York, Moscow, Paris and Milan when it comes to having a fancy Mumbai office address in say, Nariman Point or Worli.

Regionally though, occupiers are still better off per square foot in Mumbai than if their business were headquartered in Tokyo or Hong Kong. But despite rental prices coming down 20 percent in 2009, this year demand is expected to be "buoyant." 

Which is a nice way of advising you to lock your space down before the IT sector starts gathering steam, which Constructionweekonline.in predicts they will by the end of the year. The rate at which the technies buy is key in understanding the Indian office market.


User Comments and Reviews

What do you think?

Leave a comment or submit a review. You have to be logged in to comment.

Post

CNNGo Comment Policy: CNN encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give CNN the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. CNNGo Privacy Statement.

Comments are moderated by CNNGo, in accordance with the CNNGo Comment Policy above, and may not appear on this blog until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

Listings

  1. Eat / Inexpensive
    Ballard EstatePrice $
    Britannia Cafe: Eccentric lovely Parsis
    As one of the few remaining Parsi restaurants of its kind, the ever popular Britannia draws loyal customers to its obscure location in the business district of Ballard Estate...more
  2. Visit / Business Class
    WorliPrice $$$$
    Four Seasons Mumbai: Beemers and bellinis
    The latest addition to the Four Seasons family in the emerging Worli district is helping to make Mumbai a more lavish Asian business destination...more
  3. Visit / Business Class
    Marine DrivePrice $$$
    InterContinental Marine Drive: Not all's quiet on the waterfront
    Art deco seaside luxury in the heart of the city; good for the short business stay and the rooftop bar...more
Know an amazing Bar or Club?
Be first to let us know. Just fill the information below and we'll be sure to feature it on our site.
Tell Us