Fuelled by demand in southern markets, office leasing rises 64% in Q3CY20

On a yearly basis, the absorption of space has fallen 50 per cent from 10 million sq ft in Q3CY19 to 5.4 million sq ft in Q3CY20

Office space leasing, which was severely affected during the initial months of the Covid-19 pandemic, has picked up in the third quarter (Q3) of this calendar year (CY20).

The absorption of commercial office space rose 64 per cent in Q3 of CY20 versus the second quarter (Q2), property consultant JLL India said on Monday.

The Q3 office rebound growth was led by Bengaluru and Hyderabad, which together accounted for nearly 80 per cent of the net absorption in Q3. 

The activity in Bengaluru indicates a gradual resurgence in spaces, coupled with the translation of pent-up demand from Q2 this year, added JLL.

On a