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Negative demand hits office spaces

1 Comment Sub Category:Uncategorized Posted On: Dec 17, 2011

Recession hitting the job markets also had a bad impact on commercial spaces!

Due to the current economic scenario, demand for office spaces in metro and major cities in the country has gone down drastically.

In April-June quarter, the demand was 10.5 million sq ft area and in July-September quarter, it has fallen down to 8.5 million sq ft. There has been a negative demand of about 20% from previous quarter.

Cushman & Wakefield have forecasted that there might be another 5-10% fall in October-December quarter.

Southern cities like Bangalore, Chennai and Hyderabad are well off against their counterparts like Delhi NCR, Mumbai and Pune which suffers from oversupply stage.

Source: The Economics Times

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