Office space leasing drops 27% in January-March quarter
Thursday, April 20, 2017, 10:59 PM
The leasing of office space fell 27% in eight major cities to 5.5 million sq ft during January-March quarter due to lack of supply. The net absorption of office space stood at 7.4 million sq ft in the year-ago period. Supply of office space has been affected as real estate developers are facing liquidity crunch because of a multi-year demand slowdown in property market.