New Delhi, April 23 -- The office real estate market vacancies fell to 15.7 per cent in the first quarter (Q1) of the current year, marking the seventh consecutive quarter of decline, according to a report by global commercial real estate services firm Cushman & Wakefield.

This decline represents a drop from 18.45 per cent in the second quarter of 2023 (Q2 2023).

As per the latest Q1 2025 Office Market Report, supply constraints and strong occupier demand in the first quarter of the year across India's top 8 office markets have resulted in a drop-in vacancy rate by 55 basis points (bps) to 15.7 per cent from 16.25 per cent in Q4 2024.

According to the report, total new office completions in Q1 2025 stood at 10.7 million sq. ft. (MSF), ...