The year ended on a good note as the Indian economy gained confidence. The reason behind the same is to improve in India’s rank in World Bank’s Ease of Doing Business index to Rank 77th with the jump of 23 spots.
India is the fastest growing economy in the world, in 2018 commercial property market experienced boost up in business.
The recent boost up in the market precisely in the commercial sector is a prime benefit for the real estate industry. The buyers have shown more interest in occupying large office spaces, which tends to increase the occupiers in the market.
The office demand in India is increasing which is the major reason for increased investment in commercial real estate. The ending of the year 2018 is expected on high records with overall leasing volumes and leasing demand.
The average deal size has risen 27% this year to approximately 34,200 sq ft, as a result of the large deals. Moreover, by the end of October 2018, the total gross leasing has risen to 38 million sq ft and it is expected to get closer to 50 million- which is the highest ever for office space in the market.
In the Indian commercial market, the breaking of previous records in commercial segment is an indicator of boost up in the leasing market.