India, April 12 -- Office rentals across India's top seven cities recorded a year-on-year increase of 4% to 8% in 2024, reflecting strong demand in the commercial real estate segment, according to a report released by real estate consultancy Vestian.

The surge of rentals in the report is attributed to India's robust economic performance, growing urbanisation, and an expanding base of global companies seeking high-quality office spaces.

On the other hand, eight key global office markets showed a mixed trend in rental movement during the same period, the report said.

Among international markets, office rents declined in several major cities. New York saw a 1.3% dip in average office rent, settling at USD 7.5 per sq ft per month.

The con...