Demand for office space to stay strong in 2017

A property consultant expects the demand for office space to stay strong in 2017 on the back of low supply and lack of availability of Grade A office spaces. It also expects more companies using co-working spaces to adopt a flexible working strategy.
According to the agency, while supply in 2017 is expected to remain at 35 million square feet, absorption is being pegged at nearly 42 million sft reflecting a demand-supply mismatch. Even in 2016 and 2015, supply remained at 27.2 million sft and 33 million sft across major eight cities while absorption was 41.6 million sft and 40 million sft respectively.

Read more: Economic Times