Bengaluru overtakes Delhi-NCR, Mumbai in warehousing rental growth in H1 2023

Bengaluru saw the highest rise in warehouse rents among Indian cities, with an annual average jump of 7.5 percent, overtaking Delhi-NCR and Mumbai in the top 10 Asia-Pacific (APAC) warehousing markets in H1 2023, a report by Knight Frank India has said. The Asia-Pacific Logistics Highlight H1 2023 report said that the rental growth was up 10.4 percent from the same period of the previous year. While rent in Bengaluru, ranked sixth in the APAC list, rose to Rs 21.5 per sq ft a month, Delhi-NCR, which is positioned eighth, reported a 6.6 percent jump from the previous year at Rs 20.20 per sq ft per month. Manila tops the list with a 49.3 percent year-on-year (YoY) jum in rent followed by Sydney and Brisbane at 38.6 percent and 23.8 percent, respectively. Bangkok ranked last with rentals dropping 0.2 percent.