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India: Office space demand down 26pct in 2012

Posted on 11 January 2013

Office spaces rented by companies, a clear indication of the economy’s health, for 2012 dipped by 26% compared to 2011 in seven major cities, according to a report by leading commercial property and real estate services adviser, CBRE India.
According to the report, about 26 million sq ft of office space was absorbed in 2012 as against 35 million in 2011. “The decline in absorption across key cities is primarily due to the continuing global and domestic uncertainty in the economy which is a deterrent for corporates in their expansion plans. ……………………………………….Full Article: Source

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