Key Trends Shaping the Commercial Office Space Market in 2019-20
by Himanshu Propliners One Stop Solutions For All your Real Estate NeedsThe commercial office space market in India is witnessing a enormous change in 2019.
THE
DEMAND FOR COMMERCIAL
OFFICE SPACE PROPERTIES IS MOUNTING UP DAY BY DAY.
THERE IS A HUGE POTENTIAL GROWTH IN END USERS AND INVESTORS ALIKE. earlier the
government retired personale use to put their providend fund money into banks
but now they are investing it as the commercial properties are offering good
returns along with assured rentals.
After Make In India
Program, it is really happening that India is becoming one of the biggest destination for investments. The
G.D.P of India is highest among the world for the 2018. Today everyone is eagerly
looking to ace up their investments in the commercial real estate market.
Thanks to the
tremendous growth of Tier 1 and Tier 2 cities of India that are absorbing the
ever-changing corporate environment. The demand for bigger as well as better
office spaces by national and multinational companies are swiftly surging in
these areas.
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BELOW ARE SOME TRENDS THAT ARE FRUITFUL IN SHAPING THE COMMERCIAL OFFICE SPACE
MARKET IN 2019:
1. Emerging trend of Co-working
places managed by Multinationals and Indian Players:
The days are gown when
co-working or shared workplaces were only looked upon by the start-ups and
Small companies or those who just want to put an address on their website.
Today there are many multinationals and indian players that are providing high
end office space services in Co-working place.
The perks of superior
infrastructure, flexible work environment, Pantry, cleaning services etc are
playing wonders. Moreover, it also has the advantage of reducing their
operational costs. Due this many bareshell commercial spaces are now seeing
occupancy.
2. Role of Technology:
The latest
technology-powered office solutions are the game changer for the Indian
corporate real estate sector. This new trend of having robot receptionists,
wireless AV systems, parking services based on apps, intuitive meeting rooms
are driving the future growth of commercial estate in India. These
technological innovations are propelling the corporate world.
3. Leasing is more
favorable as Buying:
The past few years
have witnessed many companies opting to lease a commercial properties in Tier I
and Tier II cities instead of buying them. Buying is a one-time investment which
will increase fixed investment for the company. Rather than buying a space
companies are love to rotate their money in their business to generate good
profit.
Partnering with
co-working brands gives an opportunity to the occupants to enjoy a vibrant work
environment and get agile workplaces. It also turns out to be a good networking
source. The terms are very cost-effective.
4. Space Efficiency is
helping to Boost Operational Efficiency:
These days the
corporate giants are combining their several office spaces into one.
They want their space to be resourceful. This helps them to save overhead
costs. As a result, now there is a requirement of bigger office spaces to
accommodate staff members from multiple office locations.
5. The Well Being
Aspect for Employees is moving Fast:
Corporate giants have
started giving due importance to “Wellness”. They want their employees to be
sound and healthy. Thus they look forward to only those projects that possess
the label of “Well Certified” to ensure the wellness of the occupants.
6. Revision on Lease
Period is taking the Tempo High:
The lease period for
office spaces has now been extended up to 12 or 15 years as against the earlier
term of 9 years. This is enabling the tenants to save on rent and secure
occupancy rights.
Studies reveal that
last year in 2018 even Non-IT companies like healthcare, biotech, telecom,
consultancy businesses, and others actively showed interest to occupy the commercial office space market in India.
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Created on Jul 8th 2019 05:52. Viewed 549 times.