Office leasing in February fell 15%

Office leasing in February fell 15%
Office leasing in February fell 15%

               New Delhi: Office leasing fell 15%, and for the preparation of housing demand remains weak in February, according to property consultants CB Richard Ellis.

"Trading activity fell by about 15 percent over the previous month, and Bangalore proportion accounted for almost 50% of the overall space of the transaction," CB Richard Ellis said in its monthly update.

Pune and Delhi, NCR also saw strong trading activity (the major cities of the total trading space of about 30%) in February, it added.

Cities such as Bangalore, Hyderabad and Calcutta observed increase month occupancy demand.
"There are few large transactions (over 100,000 square feet) also concluded in Bangalore, which after the end of trading, Tech Mahindra Goldhill company is committed to a maximum of about 140,000 square feet, Wal-Mart spent about 13 square feet of Salarpuria Reiki and Royal Bank of Scotland business services leased approximately 100,000 square feet in the RMZ Ecoworld, "CBRE said.

This month also saw the renewal of an existing lease (approximately 0.33 million square feet), mostly from corporate tenants, it added.

Absorption of office space increased by nearly 10 percent in 2014 over 330,000 square feet compared to the previous year.

In the real estate market, CB Richard Ellis, said, "To prepare for the demand for residential property is still weak." Quantum launch month residential units remained at a low level.

The real estate market, particularly housing, is facing a slowdown in growth in the past few years due to the huge surge in property prices and high interest rates.
Most housing projects have been launched in Bangalore and Chennai, midrange and high-end market (measured at 100? 700 units), and within a month to attract new limited release in other cities, the report said.

"Most of the market capitalization of the leading micro-city is mainly due to the general low-end user demand and inventory accumulation in most areas remained stable. Looking ahead, the housing market is likely to see a stable price point in the launch of the gradual recovery leading cities, "CBRE said.

However, emerging markets and has a substantial supply piping surrounding areas may see a slight price adjustments in the coming months, it added.


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