India has emerged as the leading force in the Asia Pacific (APAC) office leasing market during the first half of 2025, capturing 70% of total leasing activity, according to a report by Colliers International. Across the APAC region’s 11 key markets, leasing reached 48.4 million square feet (msf), reflecting a 9.6% year-on-year (YoY) increase. Remarkably, India alone contributed 33.7 msf through its top seven cities, consolidating its position as the dominant market in the region.

The surge in leasing demand in India was largely driven by domestic occupiers, accounting for 46% of total demand, supported by robust Grade A office requirements, continued global capability centre (GCC) expansion, and a diverse tenant base. Analysts noted that this reflects a healthy and resilient commercial real estate market in India, with a strong positive outlook for the remainder of 2025.

India also led new office supply in APAC, delivering 24.76 msf, representing 48% of total additions in the region. Across APAC, overall new supply grew by 45.4% YoY to 51.7 msf, surpassing demand in multiple markets. Together, India, Mainland China, and Japan contributed approximately 90% of APAC’s office demand, while India, China, and Singapore accounted for 80% of new supply, highlighting India’s central role in shaping the regional office market landscape.

The report highlighted supportive macroeconomic conditions as a key driver of India’s office market growth, including lower inflation, easing interest rates, and positive GDP growth. These factors, combined with strategic tenant expansions and infrastructure development, have reinforced investor confidence and occupier activity.

Looking ahead, Colliers expects sustained leasing demand in H2 2025, although the increase in supply could create pressure on vacancy rates in certain markets. Rental growth is anticipated primarily in select high-performing micro-markets, indicating a more differentiated growth pattern within India’s office market.

Overall, the first half of 2025 has confirmed India’s position as a regional powerhouse in office leasing, highlighting its continued attractiveness to both domestic and international occupiers seeking quality office space and long-term growth opportunities in the APAC region.

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