Quarterly absorption of office space reaches Q1 levels in Q4CY2020

The quarterly absorption of office space in Q4CY2020 reached Q1 levels. Barring Bengaluru, net absorption of office space improved in the other six cities (Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, Pune) according to JLL Research. 

Hyderabad led the pack with the highest net absorption in Q4CY2020. On an annual basis, in 2020, the recovery in absorption was 81 per cent of annual levels between 2016 to 2018. However, vacancy in office space increased from 12.80 per cent as of March 2020 to 14 per cent as of December 2020.

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