India Office Market Update, Q1 2024 | A Comprehensive Analysis by JLL
- Reports
- June 3, 2024
The latest report by Qdesq and MyBranch highlights the significant growth in Tier 2 and Tier 3 cities, focusing on the expanding flexible office space market. Economic reforms, substantial business investments, and vibrant urban development initiatives drive this growth.
READ MOREIndia’s Q1 2024 office market showed resilience, with gross leasing surpassing 15 million sq ft, marking the second-best first quarter. Domestic occupiers led the demand, particularly in BFSI, Flex, and manufacturing sectors. Rental values rose, and Delhi NCR and Bengaluru dominated leasing activity.
READ MOREDiscover strategic insights from Colliers’ latest report, “Expert Insights | Asia Pacific Office Markets April 2024,” highlighting six key priorities for achieving significant cost savings in office real estate.
READ MOREThe EMEA Flex Space Market Review for Q1 2024 investigates the thriving flexible workspace sector, which has experienced a significant 35% increase in demand. It also highlights the emerging hub-and-spoke model.
The report strongly emphasises the importance of quality, amenities, and, most importantly, a people-first approach in driving success in dynamic commercial real estate markets.
The Q1 2024 India Office Market Overview by Colliers highlights robust growth in Bengaluru and Hyderabad, driving 50% of leasing activities and 75% of new supply. Rental rates are on the rise, and with stable vacancy levels, the market promises lucrative opportunities for investors and occupiers alike.
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