Co-working space demand rises in H1 even as IT sector share dips

Average monthly office rentals rise across cities, highest in NCR and Hyderabad at 5%

The decision of businesses to ask employees to return to office has spiked the demand for co-working spaces by 14 percentage points year-on-year in the first half (H1) of this calendar year, says a report by Anarock. This increase came despite a significant reduction in the information technology sector’s share of such spaces.

In H1, the share of co-working spaces was 20 per cent out of a net absorption of about 20.8 million square feet across the top seven cities in the country-—the National Capital Region (NCR), Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Hyderabad, Chennai, and Kolkata. In contrast, in H1