Demand for working office space is on the rise across Indian cities, an area where real estate investment is picking up.
Emerging Trends in Real Estate Asia Pacific 2019, a real estate forecast jointly published by the Urban Land Institute (ULI) and Pricewaterhouse Coopers, says Mumbai reports rising demand for high-quality office space. The city is also seeing a strong growth in co-working assets.
Value-add continue to be a focus as owners look to upgrade assets by providing more flexibility, better user experience, and improvements leveraging design and technology functions.
As cities are becoming denser and housing costs rise, more developers are looking to co-living as a way to pack more people into smaller areas.
The Emerging Trends report is based on over 350 survey responses received from real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.
“India continues to remain one of the most attractive investment destinations in the Asia Pacific region. With most of the other cities, near the top of the cycle in terms of rent and capital values, India still offers value creation opportunities,” says Bhairav Dalal, Partner – Real Estate Tax, PwC India.