Learn more by clicking our most recent Bengaluru MarketBeat reports on the various sectors below.
Bengaluru MarketBeat Reports
03/07/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEATS
Bengaluru Office Report
Bengaluru recorded gross leasing volume (GLV) of 5.5 MSF in Q2, an 83% growth y-o-y. Net absorption stood at 2.5 MSF, a 4.5x jump y-o-y. Fresh leasing comprised 60% of quarterly GLV while pre-commitment’s share rose to 35% from 28% in Q1 2024. BFSI sector led with 38% share followed by IT-BPM (25% share) and flex space operators (14% share). Quarterly supply was recorded at 2.1 MSF, a slowdown on q-o-q and y-o-y basis. City-wide rentals remained stable q-o-q with supply keeping pace with demand.
Bengaluru Retail Report
In Q2 2024, Grade A malls in Bengaluru recorded ~0.15 MSF of leasing activity, a near 4X jump q-o-q and a 15-20% expansion compared to Q2 2023. Hypermarkets comprised nearly two-thirds of quarterly leasing followed by fashion (12%) and entertainment (10%). Main streets saw ~ 0.16 MSF of leasing volumes, 10% q-o-q growth and a 47% jump compared to Q2 2023, driven by fashion (33%) & F&B (24%) segment prominently. Suburban main streets saw 5-7% q-o-q rental growth, while mall rentals largely remained unchanged.
Bengaluru Residential Report
Bengaluru residential market saw 13% quarterly growth and 23% expansion compared to Q2 2023. Eastern submarket captured around 41% of quarterly launches, followed by south and south-east submarkets cumulatively contributing around a third of launches. The northern submarket accounted for a 27% share. The Mid-segment comprised half of the total unit launches. The high-end and luxury launches more than doubled on a quarterly basis. Capital values grew 4-5% q-o-q in the east and north submarkets. 5-7% q-o-q rental growth was witnessed across key IT hubs in the east and south-east submarkets.
Bengaluru Industrial Report
Leasing volumes witnessed 15% growth in comparison to the first half of 2023. The prime warehousing corridor of Nelamangala in west Bengaluru accounted for 36% of the leasing activity. A jump of 72% from 2022, marks a heathy warehouse demand. Prominent warehousing corridors are likely to add substantial supply over the medium term. A robust demand led to 8-10% increase in rentals and land values. The established industrial corridor at Nelamangala in the west continues to witness steady demand with rentals increasing by 4-5%.
India Investment Report
The investment activity recorded in Q2 was INR 158.5 bn (USD 1.92 Bn) which was 63% higher than the previous quarter’s activity and 60% higher than the activity recorded in Q2-22.
RELATED INSIGHTS
Insights • Investment / Capital Markets
Is India Building Enough to Power Its Digital Transformation?
It is estimated that India will be adding 464 MW of new Colo capacity each year until 2028. Despite this, India still needs to catch up with other comparable nations. We believe that accelerating this pace could unlock significant opportunities for India’s data centre and technology sectors.
27/06/2024
Research • Workplace
Pan India leasing volumes remained strong in Q1 2024, crossing the 20 MSF mark for the third time in the post Covid period. A gross leasing of over 20 MSF for two consecutive quarters is a significant record for the office real estate market, suggesting that activity in India is moving on a higher plane.
14/05/2024
Insights
Five Fast City Facts Bengaluru Q1 2024
What You Need to Know in Today's Bengaluru Commercial Real Estate (CRE) Market.
03/05/2024