Office space absorption down by 35%: JLL
While reports pointed out an increase in office rentals, a study by real estate consultancy Jones Lang LaSalle (JLL) shows that there has been a 35 per cent dip in office space absorption in seven major cities, as of June 30, 2012.
The report states that the supply fell by 52 per cent during the period. The rising supply of office space in Mumbai and NCR-Delhi continued to outstrip absorption whereas in most of the other cities, it is the other way around.
NCR-Delhi recorded highest absorption of 21 per cent, followed by Mumbai with 19 per cent. The survey notes that the supply outcropping will continue in near future.
Commercial real estate, Delhi, India real estate, Jones Lang LaSalle (JLL) India, Mumbai, NCR, Office space, Office space absorption, Office spaces, Real estate consultancy firms, Real estate firms, Real estate in India, Realty News
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