Despite economic recovery, office leasing won't see a quick turnaround
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New Delhi, Jan. 14 -- At the peak of the coronavirus crisis, increased adoption of work-from-home culture came as a dampener for commercial properties. Then, analysts had cautioned although the demand for office spaces may not get completely wiped out, leasing activity would take a toll.
Latest data by property consultant Knight Frank India showed that office leasing activity improved in the second half of 2020. In the December quarter, office leasing activity saw a two-fold rise on a sequential basis to 1.63 million square meter. However, total office transactions for H2FY20 dropped by 33% year-on-year (y-o-y) to 2.06 million square meters. These include fresh transactions, relocation based transactions and pre-commitments.
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