Office space net absorption expected to reach pre-pandemic levels: experts

While tier-1 remains the key demand driver, there is considerable interest in tier-2 cities due to improved infra and the prevalence of hybrid working model

With the adoption of hybrid working models and companies mandating work from the office, the demand for office spaces has increased not only in tier-1 cities in tier-2 as well.

According to experts, the net absorption for office space this year is expected to surpass the pre-pandemic average and cross the 40 million-sq-ft mark.

Experts say the recovery from the pandemic indicates significant movement towards pre-pandemic absorption levels, which can be attributed to sustained economic growth and government focus.

Pre- and post-pandemic demand

According to a CBRE report, office space absorption has risen by nearly 66 per cent annually.

“Net