Commercial real estate update: Demand for Grade A offices Forecast to return to pre-pandemic levels in 2024 Hindustan Times
Demand for Grade A offices is forecast to return to pre-pandemic levels in 2024, but record levels of new supply will cause vacancy rates to also tick upwards, according to an analysis by Cushman & Wakefield.
The global real estate services company said in its 2024 Asia Pacific Office Outlook that the top eight Indian real estate cities were expected to cumulatively account for just over half of the region’s total demand. The combined demand forecast for Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune is around 40 million square feet (msf), which is equivalent to around 52 percent of regional demand.
