The good news is that the commercial segment in real estate is upbeat and demand is picking up. While initially, the first quarter of the calendar year saw a major decline in rental values in commercial spaces, the process of stabilisation has now begun over the last few weeks. Companies, which were earlier hesitant to set up shop or expand are also looking at viable locations to close deals. A study by global real estate consultancy Jones Lang LaSalle Meghraj (JLLM) shows commercial rentals across all major cities reaching stability after an overall downward movement in the second quarter. According to the consultancy, an absorption between 4-5 million square feet of commercial space was witnessed in the first quarter of 2009, which was higher than 4th quarter of 2008.
Tuesday, June 23, 2009
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