According to CBRE’s latest Asia Pacific Market Sentiment Survey*, the country is showing sustained momentum across the office, retail, and industrial sectors — a contrast to the softening sentiment in several other key APAC markets.
Between September 2024 and June 2025, India’s Office Market Sentiment Index rose above 70 per cent, the highest among all countries in the region.
The Economic Times reports this reflects growing occupier confidence and stable rental growth, particularly in cities such as Bengaluru, Hyderabad, Delhi-NCR, and Mumbai.
CBRE’s India Office Figures for Q1 2025 revealed that gross leasing activity reached 18 million square feet across nine cities — a 5 per cent increase on the previous year.
While renewals remain the largest contributor, demand driven by IT and Global Capability Centres (GCCs) continues to support expansion-led leasing.
Notably, India and Japan are the only markets where this expansion trend remains strong, while countries such as Korea and Singapore have seen a tapering in activity.
Retail remains resilient
India’s retail sector has also held firm, with retailers actively pursuing space in high-footfall, high-yield locations across major metros.
While leasing volumes have slightly moderated, the country has not seen widespread store closures, unlike some other APAC markets where cautious expansion and consolidation have become more common.
CBRE’s research indicates that retailers in India remain optimistic about long-term growth, underpinned by stable consumer demand and confidence in key urban centres.
India is the only market in the Asia-Pacific region where sentiment across all three major sectors — office, retail, and industrial — remains above neutral, according to the survey.
This reflects a broad-based resilience and a growing role for India as a strategic destination for global occupiers.
Sectors such as technology, BFSI (banking, financial services, and insurance), and GCCs continue to drive healthy enquiry and transaction activity, supported by an expanding infrastructure pipeline and favourable demographic trends.
A strong alternative amid global uncertainty
Commenting on the findings, Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East & Africa, CBRE, said India’s performance is underpinned by its diversified occupier base and long-term fundamentals.
“India’s consistent performance across office, retail, and industrial sectors positions it as a key pillar of stability in the Asia-Pacific real estate landscape,” he said.
“As global occupiers reassess their regional strategies amidst economic uncertainty, India offers a compelling proposition with its resilient demand, expanding infrastructure, and landlord-favourable dynamics.”
Ada Choi, Head of Research for APAC at CBRE, noted that India stands apart from peers still adjusting to post-pandemic trends.
“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,” she said.
*The CBRE Asia Pacific Market Sentiment Survey, conducted between 20 May and 4 June 2025, gathered 517 responses from CBRE leasing professionals across the region.
