The report says India and Australia are the main drivers of this growth. Hong Kong SAR is still the most expensive office market in Asia-Pacific, at USD 158.96 per sq ft per year.
In India, Delhi-NCR is the costliest at USD 72.33, making it the 6th priciest in the region.
Mumbai follows at 8th place (USD 68.51), and Bengaluru is at 19th (USD 36.84). Together, these three cities leased a massive 1.88 crore sq ft of office space this quarter, 3% more than the same period in 2025.
Mumbai alone set a new record by leasing 56 lakh sq ft in a single quarter.