Office Rentals may dip 5-10% on lower Demand from Corporates due to Covid-19 pandemic
Global property consultant Cushman & Wakefield (C&W) has projected that office rentals might drop 5-10 per cent on lower demand for office space from corporates because of the coronavirus pandemic.
The outbreak of the coronavirus disease will have a short-term impact on India’s office market, with demand likely to fall 45 per cent, said C&W Managing Director (India and Southeast Asia) Anshul Jain.
The net leasing or absorption of office space might fall to 25 million sq ft this year across eight major cities as against 45 million sq ft during 2019, he said.
Jain was speaking at a webinar organised by Workplace Trends India founder Tushar Mittal, who also heads interior design firm SKV.
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