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Bengaluru MarketBeat Reports

22/04/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Bengaluru continues to be a top contributor with a share of 20-25% in quarterly leasing across top 8 cities. Gross leasing of 2.9 msf was recorded in Q1 2022, continuing the momentum from the previous two quarters. With 37% of leasing activity, the IT-BPM sector led the way, followed by engineering & manufacturing, telecom & media, and flexible workspace.

Residential: Q1 2022 witnessed an exponential rise in the residential sector with a 2.4X jump compared to 2021. Bengaluru launched 8,830 units this quarter, which is a 23% increase over Q4 2021. This continuous and sustained momentum in project launches indicates a strengthening of developer confidence and a steady increase in buyer enquiry. Southern and South-Eastern submarkets accounted for 61% share in quarterly launches, while the Eastern submarket accounted for 20% in Q1 2022 launches. These submarkets are expected to continue to drive launches and a healthy sales environment.

Retail: An improved retail activity was seen in Bengaluru with 0.2 msf of retail space getting leases in completed malls. Superior category malls like Phoenix Market City, Brigade Orion, Forum Koramangala, etc. witnessed footfalls as high as 90-95% pre-COVID levels on weekends and approximately 70-75% on weekdays.

Learn more by clicking our most recent Bengaluru MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Bengaluru Office Report

Bengaluru is seeing a robust supply addition of 3.1 msf. to office inventory in Q1 2022. With a healthy pre-commitment and an anticipated supply of 10.0-11.0 msf. in the coming quarters of 2022, net absorption by the end of 2022 is expected to be healthy.

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Shopping Retail
Bengaluru Retail Report

Q1 2022 recorded no new supply of retail space and the city’s mall inventory stood at 13.0 msf, leading to a marginal drop in overall mall vacancy by approximately 40 bps. Prevailing tight vacancy levels and demand for superior spaces well-performing malls are likely to register single-digit vacancies in the coming quarters.

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Warehouse Internal Rack
Bengaluru Residential Report

The residential market of Bengaluru has been marked with new launches in Q1 2022. Developers of national repute such as Sobha Developers, Brigade Group, Prestige Group and others account for 60-65% of launches, the remaining 35-40% was contributed by regional players.

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Warehouse Internal Rack
India Investment Report

Besides the slow rate of growth at 5.4% y-o-y, the Indian economy remained the fastest-growing major economy globally in Q1 2022. This quarter also recorded a private equity investment of INR 57.9 bn., a decline of 38.4% q-o-q but with a promise of picking up pace in coming quarters.

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Warehouse Internal Rack
Bengaluru Industrial Report

Developers have been expanding their footprint in both, first and last-mile delivery warehouses, to meet rising demand from e-commerce and 3PL firms. While developers continue to explore opportunities to upgrade aging properties in prominent warehousing corridors, some of the larger developers were looking to start the construction of their planned warehouse /logistics projects during H2 2021.

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