The East versus the West in terms of renting commercial property is true as Mumbai overtakes New York. Mumbai is still home to many expatriates from various countries of the world. Despite the economic downturn at the global level, this city has witnessed a sheer rise in the rental value. In a recent survey Mumbai is positioned as the fourth costliest city in terms of renting property for expatriates. While the heart of India, New Delhi is at the 8th position out of 300 cities around the globe. It was revealed by a study done by the consulting firm, Mercer LIc.
New Delhi has become the victim of the recession and that’s why we have seen a sharp fall in house rents for expatriates. This has resulted in the movement of its position from sixth to eighth. Gangapriya Chakraverti, the business leader of Mercer India told that it is the NCR which has seen the transparent rise in houses for expats but no such rise has occurred in Mumbai. The heavy log of the current recession has pushed many multinational companies to shift their expats’ employee houses to new locations where the rental value is quite cheap.
New Delhi has become the victim of the recession and that’s why we have seen a sharp fall in house rents for expatriates. This has resulted in the movement of its position from sixth to eighth. Gangapriya Chakraverti, the business leader of Mercer India told that it is the NCR which has seen the transparent rise in houses for expats but no such rise has occurred in Mumbai. The heavy log of the current recession has pushed many multinational companies to shift their expats’ employee houses to new locations where the rental value is quite cheap.
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