Property consultants offer contrasting reports regarding the office space demand and absorption trends.
Normally the property consultants offer reports on everything and anything that happens in the real estate sector. In most cases their studies seldom differ. However their reports about office space demand trends in January 2013 are not supportive each other. On the other end, these reports seem contrasting each other.
The report of CBRE, C&W, DTZ and JLL are offering varying and contrasting facts. This contrast has created a number of issues for those who analyze the market so closely. The market watchers do not find it easier to reach out a conclusion from these contrasting reports.
Let us begin with the report of CB Richard Ellis. The American property consultant reported that the office space absorption has risen by 37%. It added that the absorption, compared to January 2012, is more this year.
Cushman & Wakefield came with another report. As per their report the office space absorption is done by 37%. This report is upside down of what was stated by CBRE.
The confusion stops nowhere here. But it is only the beginning point.
DTZ India was the next to present its report. It reported that the office space demand is up this year. However in their opinion the rise is only by 20%.
It means that this report too does not comply with the CBRE report. At the same time it does not contradict the report of the former.
Meanwhile Jones Lang Lasalle presented still interesting report. As per the JLL report the demand for office space is static and modest. The report states that the demand is neither growing nor falling but static and steady in comparison to the absorption rates in January 2012.
To summarize, there is no conformity among the property consultants with regard to the office space absorption trends. While two of the property consultants report to have an increase in the office space demand, one reports a downfall. Still another report states that the office space demand is static and stable.
