Delhi has again joined the list of 10 cities worldwide that command the highest rentals for office space, says a report released Tuesday by global realty consultancy CB Richard Ellis. Mumbai dropped one place to the seventh position, the report titled 'The Semi-Annual Global Office Rents' added.

'While Mumbai continues to remain in the top 10, Delhi has re-joined the top 10 ranking of most expensive office markets after two years,' said Anshuman Magazine, chairman and managing director, CB Richard Ellis South Asia.

'Although the rentals in the Delhi central business district have remained stable for the past six months, it has moved up to the 10th position primarily due to other global cities declining significantly in office rentals,' Magazine said.

Delhi moved up from 12th to 10th position, while London reclaimed its position as the world's most expensive office market. 'From the third quarter of 2009 onwards, we have seen corporates coming back into the market and office space take-up has improved,' Magazine said.

'To reduce office occupancy costs further and facilitate more supply of office space, we need to urgently improve our infrastructure and amenities. This would bring our world rankings down further and make India more competitive,' he added.

The year-on-year change in prime office occupancy costs of the cities monitored reveal an average drop of 7.7 percent worldwide over the 12-month period ending Sep 30, 2009.