Flexible space operators have become the second-largest sector in office leasing for the first time in the Jan-Mar quarter, accounting for 22% of the total 14.4 million sq ft leased. With tech and BFSI sectors leading, India s office sector outlook remains positive, driven by growing demand and diverse segments.
Releasing its 'India Real Estate: Office and Residential Report (January-March 2024)' through a webinar on Thursday, Knight Frank India said housing prices rose in the range of 2-13 per cent annually during January-March across these eight cities - Delhi-NCR, Mumbai, Chennai, Kolkata, Hyderabad, Bengaluru, Pune and Ahmedabad. Office rent grew by 1-9 per cent.
The gross leasing of office space went up 43 per cent to 16.2 million square feet in January-March this year from 11.3 million square feet in the corresponding period of the previous year.
Get latest articles and stories on Business at LatestLY. The findings have been revealed by the report titled 'CBRE India Office Figures Q1 2024' by CBRE South Asia Pvt. Ltd. The surge in activity by flexible office space operators shows the evolving dynamics of the Indian office leasing landscape. Business News | Flexible Space Operators Claim 22% Share in Office Leasing - CBRE Report.
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