Office space absorption...going...gone..!

According to a study by global commercial real estate services firm CB Richard Ellis (CBRE), Office space absorption in the country has gone down by 41.11% cumulatively in the three quarters ended September this year, as a fallout of the global economic slowdown.

The total office space taken up between January and September this year stood at 5.3 million sq ft as against 9 million sq ft in the corresponding period last year. According to the report, rentals in the National Capital Region are likely to remain stagnant for the next few quarters.


Sean said…
Not surprising. Vacancies are going to be going up everywhere in the next year or so. Here in San Francisco we are still holding strong, but are definitely seeing a change.

Sean Murphy, Rofo - San Francisco Office Space

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