Pre-leased commercial space sales up 17 per cent in first quarter

Real estate investors are shifting to pre-leased commercial assets from residential properties after demonetisation. Sales of pre-leased commercial properties have risen 17 per cent in the first quarter of this year, according to property data analytics firm Propstack.

Demonetisation hit real estate sales badly in November and December because a third of the market is cash based. 

About 30-40 per cent of residential real estate purchases in the National Capital Region are by investors, while the number is about 20 per cent in Mumbai.

According to Propstack, sales of commercial properties went down by nearly 45 per cent in 2016