Growth momentum in office absorption, witnessed over the last two years, is expected to continue in 2017 too. India’s top 8 property markets are likely to witness 10% surge in office space net absorption in 2017 to 32.5 million sq ft, the highest level seen over the last six years, said a report.
Strengthening business confidence, stabilizing global concerns and an optimistic economic outlook are likely to infuse confidence into occupiers, steering net office absorption across property markets. Net absorption will gather pace in last quarter of this year and is expected to close around 30 million sq ft driven at the end of 2016 and is expected to continue to gain momentum for the next four years. These property markets include Mumbai, Delhi-NCR, Bengaluru, Pune, Ahmedabad, Hyderabad and Chennai.
Read more: Economic Times
