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Latest Trends In Commercial Real Estate Market

June 29 2018

Latest Trends In Commercial Real Estate Market

The year 2017 was a landmark one for the real estate sector in India. With the introduction of major economic and regulatory reforms like RERA and GST, the industry witnessed a significant transformation in terms of efficiency, quality and transparency. Over the last year, the commercial real estate market has also evolved in keeping with the many reforms. One of the most significant positive changes has been the decline in the vacancy rate of commercial property.

Here are some of the latest trends in the commercial real estate market in India:

1. The growth of FDI in commercial real estate:

Commercial real estate offers a higher yield when compared with residential property, making it a very lucrative investment option. With the launch of REITs (Real Estate Investment Trusts) in 2017 and the enhanced transparency in real estate transactions brought in by GST and RERA, the commercial real estate sector has attracted a large number of global investors this year.

2. The emergence of co-working spaces:

The last few years have witnessed a major evolution in the work culture in India. Hybrid co-working spaces are becoming increasingly popular and serve as an excellent alternative to traditional office spaces for many startups and freelancers. The convenience and cost-effectiveness of co-working spaces has led to their increased demand, and co-working operators expect to lease about 8-9 million square feet of commercial space by 2020.

3. Expansion of commercial spaces in Tier II & III cities:

As Tier I cities become increasingly expensive, many major technology and e-commerce companies are looking to expand their base to Tier II & III cities. This has made the commercial real estate market in these cities highly lucrative at this point in time.

4. Increasing popularity of Built To Suit (BTS) office spaces:

Built To Suit office spaces have remained popular with IT and ITeS companies in metro cities like Bengaluru, Pune, Chennai and Hyderabad. This has served as a hedge against an upsurge in rentals in the aforementioned cities, keeping the commercial property in high demand.

Looking for a premium commercial office space in Pimpri Pune? Gera’s Imperium Oasis presents top commercial projects in Pimpri Pune for sale


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