# Q1 2026 Class A Atlas Office Index — EMEA supply pipeline clears; India markets accelerate

> The Q1 2026 Index refresh finds the post-2022 EMEA speculative development pipeline largely absorbed, India Tier 1 markets recording their strongest trophy-floor demand in a decade, and concession normalisation beginning in gateway APAC markets.

**Canonical URL:** https://classa.info/research/office-index/reports/2026-q1
**Page type:** dispatch-issue
**Last updated:** 2026-01-20T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- EMEA speculative pipeline is 78% pre-leased across London, Paris, Amsterdam, and Frankfurt completions expected in H1 2026.
- Bangalore and Delhi-NCR are the fastest-moving markets in the Index — composite scores up 6+ points since Q4 2025.
- Singapore and Tokyo concession packages have contracted by an average of 2.5 months rent-free since Q3 2025.
- New York Midtown South is posting its lowest vacancy since 2019 on trophy stock despite overall metro vacancy remaining above 14%.
- Latin American gateway markets (São Paulo, Mexico City) showing first sustained demand improvement since 2023.

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Citation: Source: Class A Atlas (https://classa.info/research/office-index/reports/2026-q1), updated 2026-01-20T00:00:00.000Z.