Office leasing looks up as people start returning to work
The Hindu
Large IT companies are leasing properties as they foresee substantial growth going ahead, says CREDAI, Bengaluru
With new COVID-19 cases reducing and more people returning to work, the real estate market is seeing a positive response to office leasing.
According to ANAROCK Property Consultants, the main southern office market has overtaken other regions in terms of new supply, net absorption, and even rental growth, with Bengaluru, Hyderabad, and Chennai seeing an increase in their share of total office leasing.
Raghu Cheluvaraju, General Manager- Corporate Leasing, Vaishnavi Group, said Bengaluru continues to see above average vacancy levels through 2021. However, market sentiment has improved and leasing has picked up through Q2 and especially in Q3, he said.
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