Office leasing market hits record high: Flexible workspace, IT lead surge

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Office leasing market hits record high: Flexible workspace, IT lead surge - Business Standard

Quick Summary:

Transactions above 100,000 sqft made up 41% of demand, with a 13% Y-o-Y increase, particularly in Bengaluru and Pune.

The overall Pan-India vacancy rate dropped to 15.7%, a notable improvement from 17.7% in CY’23, further highlighting the strong demand for office spaces.BFSI sector leases 13.

This growth was driven by a 25% year-on-year increase in demand from co-working operators, with Delhi NCR seeing a doubling of demand and Bengaluru growing by 1.4 times compared to CY’23.