India Leads Asia Pacific Office Market with 70% of Demand in Q3 2024, Driven by Flight to Quality

The Asia Pacific office market saw a 10.7% increase in demand in Q3 2024, driven by strong activity in India, New Zealand, and Singapore. India continues to dominate, accounting for over 70% of regional demand, as occupiers seek premium, ESG-compliant office spaces.

Office Demand Surges with 47 Million Square Feet Leased in First Nine Months of 2024

In Q3 2024, India’s office space demand soared to 17.3 million sq ft, marking a 31% increase year-on-year, bringing total leasing in the first nine months to 47 million sq ft. Bengaluru and Hyderabad drove this growth, with technology and BFSI sectors leading the charge. New supply also surged, reflecting strong developer confidence in the market.

Robust leasing of 29.4 million square feet in H1 2024 resonates strong developer & investor confidence in India office market 

 Office market well placed to cross 50 million square feet of absorption…

India’s Office Market Witnesses Strong Tenant Demand 

-Net Absorption in Q1 2024 at 11.5 MSF across top-8 cities; third highest in…

India’s office market defies global headwinds to scale new heights in Q4 2023, net absorption soars to an unprecedented 16.01 mn sq ft

Net absorption in Q4 2023 reached a historic high of 16.01 mn…