Office net absorption set to rise 50% YoY in 2023 to 40 mn sq ft: JLL study

Home sales to hit 200,000 units by 2022-end, the highest in over a decade

Net absorption of office space in 2023 is expected to be 37-40 million sq ft, up 50 per cent year on year, according to a JLL report. The absorption for the first nine months of this calendar year hit a three-year high of 30.3 million sq ft and is on track to match the five-year average (2015-2019) for the full year, finds the report by JLL.

In fact, it isn't just office space but the residential and warehousing segments too, that have performed well in 2022 and are expected to continue their upward trajectory in 2023.

According to the report,