2024 India Office Occupier Survey Infographic

CBRE India conducted its annual flagship exercise - The Office Occupier Survey, during March-April 2024. By analysing the perspectives of corporate occupiers, the survey sought to understand how these key stakeholders are adapting their real estate strategies in the context of short-term macroeconomic challenges and long-term growth aspirations. The findings of this insightful survey yielded the below key takeaways.

• Hybrid working: Offices in India are exhibiting an increased preference for an “office-first” approach as occupiers continue tightening their hybrid working guidelines. The steady commitment to in-office attendance has demonstrated higher utilisation rates at workplaces around the country. According to the survey, about 90% of occupiers preferred at least three days per week in the office.

• Leasing and portfolio strategies: Occupiers’ long-term outlook for real estate portfolio expansion has remained steadfast. Their 12-month leasing strategies are focused on retaining existing spaces and refining flexibility options. The short-term portfolio strategies involve increasing the use of flexible office space, consolidating to fewer locations, and implementing flight-to-quality relocation / upgrades.

• Workplace strategies: Occupiers prioritise workplace transformation, amenity-supported employee experience, sustainability, and technology. Incorporating employee wellbeing into workplace has emerged as a key priority among occupiers.

• View on ESG: With greater awareness about sustainability and amidst stringent guidelines, occupiers’ ESG goals are progressing beyond green certification. Additionally, one-third of the companies surveyed intend to allocate 5% or more of their project budget towards ESG objectives.

Please click the download button to access the full survey report and get a deeper understanding of India’s office real estate dynamics.