According to knight Frank, property values in Dubai are expected to continue their relentless comeback following the pandemic, in addition to the 20 per cent surge in 2024. The real estate firm predicted that home prices will increase by 8 per cent market-wide and 5 per cent on average for high-end houses in the coming year.&nbsp;

Many homeowners have become accidental millionaires due to the price surge in the emirates. Knight frank's survey projected that out of the 530,000 properties sold in Dubai since 2002, at least 95,000 are currently valued at more than $1 million.&nbsp;

That is, one in five houses in Dubai is above the million-dollar mark. Faisal Durrani, head of West Asia research at Knight Frank, said, "These days a million-dollar home is really the average price of a single-family home, which highlights how much values have increased in the past four and half years."&nbsp;

The government's response to the pandemic and its relaxed immigration rules enticed a large number of international purchasers, driving up demand for real estate in Dubai. An inflow of rich investors has boosted the Emirate's luxury real estate market, which includes waterfront homes on the city's man-made palm-shaped islands.&nbsp;

Some of the investors include billionaires from Russia, crypto winners, and wealthy Indians and Asians looking for second homes. Dubai has seen significant boom and bust cycles in the past.&nbsp;

However, according to Durrani, the majority of buyers now are end users, and regulations have increased down payments. So, he believes this time there are fewer risks to the boom. Durrani said, "The drivers are very different in this cycle, and we don’t see speculative activity." He added, "There is nothing in the data to suggest we are approaching a cliff-edge moment."&nbsp;

According to knight Frank, property values in Dubai are expected to continue their relentless comeback following the pandemic, in addition to the 20 per cent surge in 2024.

According to knight Frank, property values in Dubai are expected to continue their relentless comeback following the pandemic, in addition to the 20 per cent surge in 2024. The real estate firm predicted that home prices will increase by 8 per cent market-wide and 5 per cent on average for high-end houses in the coming year. Many homeowners have become accidental millionaires due to the price surge in the emirates. Knight frank's survey projected that out of the 530,000 properties sold in Dubai since 2002, at least 95,000 are currently valued at more than $1 million. That is, one in five houses in Dubai is above the million-dollar mark. Faisal Durrani, head of West Asia research at Knight Frank, said, "These days a million-dollar home is really the average price of a single-family home, which highlights how much values have increased in the past four and half years." The government's response to the pandemic and its relaxed immigration rules enticed a large number of international purchasers, driving up demand for real estate in Dubai. An inflow of rich investors has boosted the Emirate's luxury real estate market, which includes waterfront homes on the city's man-made palm-shaped islands. Some of the investors include billionaires from Russia, crypto winners, and wealthy Indians and Asians looking for second homes. Dubai has seen significant boom and bust cycles in the past. However, according to Durrani, the majority of buyers now are end users, and regulations have increased down payments. So, he believes this time there are fewer risks to the boom. Durrani said, "The drivers are very different in this cycle, and we don’t see speculative activity." He added, "There is nothing in the data to suggest we are approaching a cliff-edge moment."

Dubai home prices set to rise again in 2025: Knight Frank

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday.

According to its latest report Asia Pacific Prime Office Rental Index Q1 2021, Bandra Kurla Complex (BKC) in Mumbai witnessed a meaningful recovery in office rents to negative 0.8 per cent QoQ during January to March quarter compared to negative 5.5 per cent in the previous quarter. The robust recovery can be attributed to improved transaction activity.&nbsp;

Knight Frank forecasts the decline in rents to decelerate this year with overall rents expected to decline by 3 per cent in the Asia Pacific region compared to the 4.8 per cent decline seen in 2020.

The central business district of Bengaluru comprising areas like MG Road, Infantry Road and Residency Road registered a decline of 3 per cent QoQ in Q1 2021 against a decline of 4 per cent in Q4 2020. Connaught Place in National Capital Region (NCR) office rents saw a flat price change in Q1 2021 compared to a negative 1 per cent in Q4 2020.

According to the index, Taipei is the only city expected to witness an increase in office rental values across the A-Pac region in the next 12 months. Of the 22 cities tracked by the index, 8 recorded either stable or increased rents in the past quarter compared to 10 in the previous quarter. For Q1 2021, Knight Frank`s Asia Pacific Prime Office Rental Index fell negative 1.2 per cent quarter-on-quarter led by large office markets like Tokyo, Hong Kong and Bengaluru recorded rental decline between negative 3 to negative 2.8 per cent during the same period. On an annual basis, the overall index was down negative 5.5 per cent year-on-year.

Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the second wave of pandemic and associated regional lockdowns have temporarily delayed occupiers` office re-occupancy plans.However, control on infection case count with graded regional lockdowns and progress on vaccination drive will act as a market stabiliser in near future.

"Given the strong fundamentals of India office market, despite the near-term uncertainty, occupiers will positively react to any improvement in the pandemic scenario," he said.

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday.

Despite uncertainty around India`s office sector, Bengaluru, NCR and Mumbai markets are expected to remain stable in rental values over the next 12 months, international property consultancy Knight Frank said on Wednesday. According to its latest report Asia Pacific Prime Office Rental Index Q1 2021, Bandra Kurla Complex (BKC) in Mumbai witnessed a meaningful recovery in office rents to negative 0.8 per cent QoQ during January to March quarter compared to negative 5.5 per cent in the previous quarter. The robust recovery can be attributed to improved transaction activity. Knight Frank forecasts the decline in rents to decelerate this year with overall rents expected to decline by 3 per cent in the Asia Pacific region compared to the 4.8 per cent decline seen in 2020. The central business district of Bengaluru comprising areas like MG Road, Infantry Road and Residency Road registered a decline of 3 per cent QoQ in Q1 2021 against a decline of 4 per cent in Q4 2020. Connaught Place in National Capital Region (NCR) office rents saw a flat price change in Q1 2021 compared to a negative 1 per cent in Q4 2020. According to the index, Taipei is the only city expected to witness an increase in office rental values across the A-Pac region in the next 12 months. Of the 22 cities tracked by the index, 8 recorded either stable or increased rents in the past quarter compared to 10 in the previous quarter. For Q1 2021, Knight Frank`s Asia Pacific Prime Office Rental Index fell negative 1.2 per cent quarter-on-quarter led by large office markets like Tokyo, Hong Kong and Bengaluru recorded rental decline between negative 3 to negative 2.8 per cent during the same period. On an annual basis, the overall index was down negative 5.5 per cent year-on-year. Shishir Baijal, Chairman and Managing Director of Knight Frank India, said the second wave of pandemic and associated regional lockdowns have temporarily delayed occupiers` office re-occupancy plans.However, control on infection case count with graded regional lockdowns and progress on vaccination drive will act as a market stabiliser in near future. "Given the strong fundamentals of India office market, despite the near-term uncertainty, occupiers will positively react to any improvement in the pandemic scenario," he said.

India's prime office rentals expected to remain stable: Knight Frank

Connaught Place (CP) in the national capital has emerged as the third most expensive office market in the Asia Pacific region with a rental of $88.8 per square metre (sqm) per month, according to a report.

Bandra Kurla Complex (BKC) in the megapolis emerged as the fifth most costly business district among the list of 20 international cities, with a rental of $80.1 sqm per month, an improvement of two places over Q4 2016, the report titled &#39;Asia-Pacific Prime Office Rental Index Q4 2017&#39; by property consultant Knight Frank said on Wednesday.

The prime office pocket in Hong Kong topped the list with a rental of $212 per sqm.

In terms of rental appreciation, Bengaluru&#39;s central business district (CBD) recorded the third highest growth with a year-on-year increase of 5.40 per cent in the December quarter last year.

Connaught Place stood at the fifth spot, with a rental growth of 5 per cent, while BKC was ranked 10th with a 4 per cent growth.

The report expects rentals to grow in BKC and Bengaluru&#39;s CBD for the subsequent 12-month period, but hints at the growth to plateau in Connaught Place.

According to Samantak Das, chief economist and national director - research, Knight Frank India, the rental growth continues to be strong across prime office markets in India on account of an ongoing supply crunch in the country.

&quot;This, coupled with strong occupier demand is expected to drive the rentals up in the next 12 months in the prime office markets of Mumbai and Bengaluru. However, we expect rental growth to remain stable in CP,&quot; he said.

Overall the index recorded 1.1 per cent year-on-year growth in the last quarter of 2017, propelled by solid economic performances across the Asia Pacific region, which was primarily driven by rising rents in 12 out of the 20 markets tracked over the quarter.

The report further said that rentals across at least 16 markets are either set to appreciate or stay stable.

Das believes demand in co-working and technology-related spaces are expected a play a major part in pushing rents up.

Connaught Place (CP) in the national capital has emerged as the third most expensive office market in the Asia Pacific region with a rental of $88.8 per square metre (sqm) per month, according to a report

Connaught Place (CP) in the national capital has emerged as the third most expensive office market in the Asia Pacific region with a rental of $88.8 per square metre (sqm) per month, according to a report. Bandra Kurla Complex (BKC) in the megapolis emerged as the fifth most costly business district among the list of 20 international cities, with a rental of $80.1 sqm per month, an improvement of two places over Q4 2016, the report titled 'Asia-Pacific Prime Office Rental Index Q4 2017' by property consultant Knight Frank said on Wednesday. The prime office pocket in Hong Kong topped the list with a rental of $212 per sqm. In terms of rental appreciation, Bengaluru's central business district (CBD) recorded the third highest growth with a year-on-year increase of 5.40 per cent in the December quarter last year. Connaught Place stood at the fifth spot, with a rental growth of 5 per cent, while BKC was ranked 10th with a 4 per cent growth. The report expects rentals to grow in BKC and Bengaluru's CBD for the subsequent 12-month period, but hints at the growth to plateau in Connaught Place. According to Samantak Das, chief economist and national director - research, Knight Frank India, the rental growth continues to be strong across prime office markets in India on account of an ongoing supply crunch in the country. "This, coupled with strong occupier demand is expected to drive the rentals up in the next 12 months in the prime office markets of Mumbai and Bengaluru. However, we expect rental growth to remain stable in CP," he said. Overall the index recorded 1.1 per cent year-on-year growth in the last quarter of 2017, propelled by solid economic performances across the Asia Pacific region, which was primarily driven by rising rents in 12 out of the 20 markets tracked over the quarter. The report further said that rentals across at least 16 markets are either set to appreciate or stay stable. Das believes demand in co-working and technology-related spaces are expected a play a major part in pushing rents up.

Delhi: Connaught Place 3rd most expensive Asia-pacific office market after Hong Kong

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Dubai home prices set to rise again in 2025: Knight Frank

India's prime office rentals expected to remain stable: Knight Frank

Delhi: Connaught Place 3rd most expensive Asia-pacific office market after Hong Kong