Hybrid working, flexibility and greening real estate will be the key buzz words in the sector,” said Ramesh Nair, chief executive officer, India & managing director, market development, Asia, Colliers. We foresee some stability in the market by mid-year in the office markets. However, the APAC (Asia-Pacific) region appears less volatile, with several pockets of opportunity on the horizon. As we look at 2023, the global economy is seeing signs of recession which could lead to a relative slowdown. "The real estate sector saw strong recovery gains and impressive growth in 2022, signaling the significance of office spaces in a post Covid-19 world. However, the real estate sector performed well during 2022, despite the economic concerns, witnessing higher traction. The year 2023 has started on a cautionary note with pressures from a looming global recession and slowdown in certain sectors, the report said. Flex spaces, hybrid working spaces and greening real estate are likely to be the underlying themes for the office sector this year, according to the ‘ Real Estate Outlook for 2023’ report by real estate consultancy Colliers.
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