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India's office leasing surged 40% in top cities, driven by IT-ITES and co-working spaces.
India's commercial office real estate saw a 40% rise in leasing year-over-year to 26.8 million square feet in the top seven cities in the first half of 2022.
Bengaluru led with 6.55 million square feet absorbed, and Pune had the fastest growth at 188%.
The IT-ITES sector took 29% of the market, followed by co-working spaces with 22%.
Office vacancy rates improved to 16.3%, and average rentals increased by 4% to Rs 88 per square foot.
Market fundamentals support further growth through 2025.
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El arrendamiento de oficinas de la India aumentó un 40% en las principales ciudades, impulsado por IT-ITES y espacios de coworking.