by Mr. Anuj Puri, JLL India.
Indian Commercial Real Estate 2013: A Review..
During the year, two kinds of polarisation in commercial
space demand were witnessed across all
cities.
First, as office consolidation was pursued, front-end
operations were separated from the backend
- space for the latter relocated into cheaper suburban
precincts, while operations of the former
remained in CBD or / SBD locations.
Secondly, while vacancy rates have risen pan-India, this
was largely due to increasing supply in the suburbs (where absorption was
relatively weaker).
Key business districts where absorption was higher and
supply was limited witnessed neutral or
marginal drop in vacancy rate.
This change in
companies’ real estate strategy has provided distinct
identity to each sub-market within a city, and will
strongly influence rental and capital values going
forward.
About the Author
Mr. Anuj Puri is Chairman & Country Head at Jones Lang LaSalle
India
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