ALL >> Real-Estate-and-Foreclosure >> View Article
Deceleration Influences Office Space Occupation
Total Articles: 2
Cautious emotions of corporate due to sluggish financial growth had led to a fall in exhaustion of office space across Bangalore. However, there is an growing preference among associations to move to quality spaces.
In general, the exhaustion of office spaces across top eight cities in for the first three quarters of the present fiscal was at 16.2 million square feet (msf), a fall in 15% compared to same period previous year, published a newest report released by global real estate consultants Cushman and Wakefield.
Across leading cities, organizations are advancing from Grade B and C spaces to quality Grade A developments. Top IT companies are moving from one building to one more building within the same micro market owing to cost benefits. In addition, a lot of companies have merged their several offices, spread across the city, to a lone large office to make the most of operational efficiencies.
Most of these relocations are from central business district (CBD) and Off-CBD sites commanding elevated rentals to more reasonable suburban and peripheral sites.
“Many companies are relocating to such markets in a bid to cut costs, improve quality of workspaces and even reduce travel time for employees,” said Sanjay Dutt, executive managing director, South Asia, Cushman & Wakefield. Total absorption of Grade A spaces till Q3 2014 was at 15.2 msf, a fall of 7% year-on-year.
Conversely, striking trend is the increase in the involvement of Grade A spaces to the largely net absorption till Q3 that has risen to 93% as compared to 86% previous year. Likewise, new overall supply for the first three quarters of 2014 also fell by 16% and was put down at 24.3 msf.
Net leasing action across the eight prominent cities saw a comprehensive 9% boost for all grades till Q3 2014 with Bangalore, Chennai and Mumbai ruling the total volume of activity.
“By the end of the year, office space absorption is expected to be at approximately 24 to 26 msf with markets such as Bangalore, Pune and Mumbai leading the trend,” the real estate survey said.
Fortune Props, an expert writer in Property and Real Estate Articles and Press Release. Currently analyzes trends of Office Space in Bangalore and writes articles for Fortune Props Websites.
More: Fortune Props
Real Estate and Foreclosure Articles1. Why It Is Not Wise To Buy A House In India
2. Real Estate Scams To Watch Out For – Md Properties Qatar
Author: MD Properties
3. Best Ways For Enhanced Construction Productivity
4. Bodrum Mülkiyetini Satın Almak Ve Kendi Villa Yapmak İçin İpuçları
Author: Alina Abir
5. Upcoming Residential Flats In Dahisar
Author: Sonali Patel
6. Satılık Gayrimenkul Türkiye'de Bilgilendirici Kılavuzu
Author: Alina Abir
7. A World-class Living Option Located At A Prime Location In Gurgaon
Author: Niharika Aggarwal
8. Faq About Residential Property Management In Auckland
Author: Peter Christopher
9. Godrej Reflections: Convert Your Dream Homes Into Reality
Author: Arun Kumar
10. Affordable Housing In Gurugram
Author: The Dreamcatchers
11. Home Buying Companies Are The Best Option To Sell Your House Fast Pennsylvania
12. Owning Your Own Luxury Villa In Hyderabad
Author: Rohit Reddy
13. Things To Know About Osb Expressway Tower Sector 109 Gurgaon
Author: Pankaj Sen
14. Eros Group-furnished Office Space In Faridabad
Author: Eros Group
15. How Do I Buy A House
Author: Your Edmonton Home Inspections