Connaught Place 5th expensive office space in world
According to a survey, India ‘s most expensive office space in New Delhi (Connaught Place – CBD ) moved from 9 th position to 5 th position.
Where as, Mumbai’s CBD – Nariman Point which was at 20th position until July has now gone to 25th position. Mumbai’s commercial real estate continues to fall further.
According to Anshuman Magazine, Chairman and Managing Director, CBRE South Asia Pvt. Limited, CBD has very limited office spaces and in near future it will witness a supply crunch. The demand is because of the quality and amenities of the office space.
The Asia Pacific top 10 dominance is led by Hong Kong-Central – the world’s most expensive market and rest are five other Asian markets.
In US market, San Francisco is the strongest of all the office spaces driven by the strongest technology sector with 36.4% office occupancy cost.
The total occupancy of the office space market has increased and led by Americas with a 5.2% annual increase and Asia Pacific with a 2.6% increase.
The total office occupancy cost has increased in 74 markets and decreased in 37 office markets.
Residential demand up, office space demand down
Service sector to boost office space demand
Commercial real estate demand going down
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