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. Slated Window Coverings Enhance Rooms With A View
Author: Ciaran Pilkington
2. Find Best Model Homes From Reliable Home Builders
3. Bhadra Legacy – New Luxury Apartments For Sale In Bangalore Near Mg Road
Author: Bhadra Landmarks
4. Never Miss These Things If You Are Planning To Buy A Property In 2018
Author: Varsha Reddy
5. How Technology Impacted On Real Estate Sector
6. Real Estate Best Option To Increase Your Wealth In U.s.a
Author: Reed Goossens
7. 4 Advantages Of Selling Your Home To A Cash Home Buyer
Author: Jesse Tsai
8. What You Should Know About Crankbrook Property Management Of Commercial Properties?
Author: Jack William
9. 7 Amazing Benefits Of Choosing Royal Docks Estate Agents
Author: John Pring
10. Residential Projects In Greater Noida West-eros Group
Author: Eros Group
11. Best Quality Real Estate Podcasts For Foreign Investors
Author: RSN Property Group
12. Ludhiana: Destination Next For Real Estate
Author: Akshay Rathore
13. Ferozpur Highways: Best Place To Buy Your Dream Home
Author: Finstem Group
14. Mysore Villa: A Home You Dream Off
Author: Finstem Group
15. Ghaziabad Housing Experts’ Predictions And A Lot More
Author: Ghaziabad housing experts’ predictions ..