India Tops Asia-Pacific Office Real Estate Sentiment, Says CBRE Report

India has emerged as the most optimistic market in the Asia-Pacific region for office real estate, driven by strong occupier confidence and consistent leasing activity, according to CBRE’s latest Asia Pacific Market Sentiment Survey. The country’s Office Market Sentiment Index crossed the 70% mark between September 2024 and June 2025, the highest among all regional markets surveyed.

CBRE’s sentiment index uses 50% as a neutral benchmark, with scores above that indicating a positive outlook on leasing and expansion trends. Notably, India was the only market in the Asia-Pacific region where sentiments across all three key real estate sectors — office, retail, and industrial — remained firmly above the neutral line.

The upbeat sentiment is backed by recent performance data. CBRE’s India Office Figures Q1 2025 report showed that gross office leasing in the country rose by 5% year-on-year, touching 18 million square feet across nine major cities during January to March 2025. The cities of Bengaluru, Hyderabad, Delhi-NCR, and Mumbai led the demand, while several Tier 2 cities also witnessed an uptick in leasing activity.

Tech and GCCs Drive Demand

The report attributes India’s commercial real estate momentum to sustained demand from the technology and financial services sectors, along with increasing investments by Global Capability Centres (GCCs).

Renewals continue to account for the bulk of leasing activity, but expansion-led deals by IT firms and GCCs remain robust in India and Japan — in contrast to softening demand in markets such as Korea and Singapore. While many Asia-Pacific markets are seeing more lease renewals over relocations, India stands out for its persistent expansionary appetite.

India’s Stability Highlighted

Commenting on the findings, Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "India's sustained office market momentum and high sentiment index reflect its growing stature as a stable and resilient investment destination."

Ada Choi, Head of Research for APAC at CBRE, also pointed to India’s standout performance:
"India's commercial markets, particularly offices, show strength in demand and rental stability. This positions the country for continued expansion, especially as global enterprises diversify their APAC portfolios."

Muted Sentiment in Other APAC Markets

While India continues to power ahead, CBRE’s survey highlighted a more cautious outlook in other parts of the Asia-Pacific. Markets such as Greater China and Australia are witnessing a decline in tenant enquiries and site visits, indicating weaker leasing activity in the near term.

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