New Delhi, April 15 -- India's office real estate market recorded its lowest vacancy levels since 2020 in the first quarter of 2026. According to the Q1 2026 Office MarketBeat report by Cushman & Wakefield, "office vacancy across the top eight cities averaged 13.85%, declining by ~48 basis points quarter on quarter (QoQ) and ~191 basis points year on year (YoY)."

As per the report, this represented the eleventh consecutive quarter of vacancy compression, taking levels below the 14 per cent threshold for the first time since the pandemic began.

The tightening market dynamics were driven by a significant moderation in new completions, which stood at 8.8 million square feet during the quarter. This figure reflected an 18 per cent decline c...