India’s commercial real estate market is going through the phase of tremendous development. Like any other market, it goes through several peaks and troughs with time, but the overall growth pattern is commendable. According to JLL’s global market perspective for the last quarter of 2015, India saw the strongest office leasing activity in the whole of Asia Pacific Region. It contributed to more than half of Asia Pacific’s office leasing market. Delhi was the strongest contributor, followed by Mumbai and Bangalore.
As per the reports, the leasing activity performed the best in the third quarter, following a pretty consistent Q2. Gross leasing volumes were seen to rise by 27% year-on-year. After Q2, India and China were the two countries that stood strong. Increased activity was seen in the Tier I cities of both the economies including Delhi, Mumbai and Shanghai. Other markets like Singapore and Tokyo recorded a reduction in transaction volume. As for the entire year 2015, office leasing volumes are about 25% higher over 2014. A 5-10% growth is expected in 2016. [Read more…]