Office leasing in Hyderabad witnesses 109% YoY growth in 2016: CBRE

    751
    Hyderabad witnessed
    Office space leasing in Hyderabad sees growth

    Hyderabad witnessed strong office leasing, registering an 109% y-o-y growth in 2016.  In the January to March 2017 quarter, the city witnessed the uptake of more than 1.3 mn sq.ft. of office space, according to a report from CBRE.  This growth in office leasing activity, coupled with robust infrastructure development and competitive pricing, positions Hyderabad as one of the most affordable residential markets for buyers in the region.  With the lowest office rentals across top markets in Southern India, corporates are increasingly looking at this market while planning their expansion strategies in the region. During the past few years, the continuous growth of the IT sector in the city has had a cascading effect on the housing market in corresponding hubs.  The residential activity in North Hyderabad is driven by presence of industries such as pharmaceutical, bio-tech, electronics, etc.  Going forward, the increase in commercial activity, coupled with the stable political environment, relatively lower pricing for residential properties, as compared to other tier 1 cities, lower land costs and improved social and physical infrastructure is expected to support the growth of the housing market in the city.

    Source: realty.economictimes.indiatimes.com

    Image source: Goodwill Coordinator

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here