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Outlook for Commercial Real Estate – 2017

Owing to the demands from manufacturing, logistics and consumer goods besides IT and outsourcing sectors, the outlook for commercial real estate for 2017 is likely to be robust. A market study by JLL India pegs the following:

  • A paradigm shift in commercial space leasing is likely to boost demand, as firms that historically bought space prefer leasing to accommodate changing needs.
  • Increased requirement from eCommerce/ start-ups and consulting firms rose, as these sectors are expected to continue with headcount, in addition, to accommodate their business growth in the years to come.
  • Real estate analysts also expect a rise in lease rentals.
  • Unlike earlier times, IT firms prefer to lease a commercial property rather than constructing one. For many companies, especially in non-technology sectors, money saved through leasing is reinvested in the business.

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  • The demand for office space is evolving, and more corporates across industries will adopt innovative workplaces in the near future.
  • Offices which are tech-enhanced, with a focus on sustainability and energy-efficiency, will command higher rents.

Sources: JLL / Live Mint

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