[INDIA REAL ESTATE NEWS] Good morning, everyone.|
I’m Anna Kim staff of Kamagroup. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.
MUMBAI: Sustained robust demand for office spaces has pushed leasing activity across the country in 2019 to a new record high. Gross office leasing volumes pan-India touched a 69.4 million sq ft in 2019, compared to 49.5 million sq ft a year ago, showed data from Cushman & Wakefield.
While registering 40% on-year growth in leasing, preleasing activity also rose to a record level. Vacancy levels stayed low despite robust supply, rentals too increased, and co-working space take-up rose 1.43 times compared to 2018.
The year witnessed record-high preleasing activity at 17.2 million sq ft, a 7.2% on-year growth. Of key markets, Hyderabad saw pre-commitments of 5.8 million sq ft, garnering 34% share of the total followed by Bengaluru ay 4.7 million sq ft at 27% share. Healthy pre-leasing demand was also witnessed in Delhi-NCR, Mumbai and Chennai.
Read more at https://economictimes.indiatimes.com/wealth/real-estate/commercial-realty-demand-scales-new-record-of-69-4-million-sq-ft-in-2019-up-40/articleshow/73224679.cms
Have a nice day.