Office Rentals To Fall 20% This Year

Published: May 19, 2009 at 9:41 AM | Author: Administrator
News Source: 14 May 2009 - Google.com

Share

In the next three quarters, office space rentals in India are expected to fall up to 20% with major cities like Delhi and Mumbai slated to see a sharp fall of 50%. As per the global real estate consultant Jones Lang LaSalle (JLL), the decline in property prices in India is expected to continue through the year with office rentals expected to fall by 15-20%, as the slowdown-hit realty sector is likely to see a recovery only in the second half of 2010. The consultant also said office rentals in Chennai, Kolkata, Hyderabad and Pune are anticipated to fall between 30% and 40% from their peak in the next three quarters, while the same in Bangalore will fall 15-20% from its peak.