Learn more by clicking our most recent Bengaluru MarketBeat reports on the various sectors below.
Bengaluru MarketBeat Reports
16/04/2024
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
Gross leasing volume for office sector was recorded at 6.7 MSF in Q1 2024, a 3x jump y-o-y. Quarterly net absorption stood at 3.6 MSF, a 2.3x y-o-y jump due to robust fresh leasing. Nearly 56% of GLV in Bengaluru consisted of large deals (>100,000 SF). IT-BPM and engineering & manufacturing sectors dominated leasing volumes, contributing 43% and 30% share, respectively. The first quarter saw significant activity by GCCs, comprising 40% of the GLV. Bengaluru recorded 35% y-o-y growth in new supply. Vacancy rates dropped to 10% in Q1, while rentals remained stable.
Bengaluru Retail Report
Bengaluru recorded retail leasing volumes of 0.18 MSF in Q1-2024. F&B and fashion retailers led leasing activity, contributing 21% and 19% of leasing volumes respectively. Mall vacancy dipped marginally to 13.2% on a quarterly basis. While demand for premium mall space by leading domestic and international brands persists, space shortage will lead to healthy space take up at main streets, particularly at fast emerging peripheral locations. Prime main streets recorded rental appreciation of ~10% on a quarterly basis on the back of strong demand and limited supply.
Bengaluru Residential Report
Residential unit launches in Bengaluru grew by 14% annually in the first quarter of 2024. The northern submarket surged with 45% launches, while the eastern submarket contributed 35% of quarterly unit releases. Branded developers contributed 53% of residential launches. The mid-segment dominated launches with 69% share. Capital values increased by 5-6% in the east, north and southern submarkets and rentals by 7-8% on a quarterly basis across east and southeast Bengaluru.
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
MarketBeat • Investment / Capital Markets
India’s real GDP grew at 8.4% y-o-y as of the quarter ending December 2023, a 5-quarter high value as against 8.1% seen in the previous quarter.
25/04/2024
Insights • Government / Public Sector
Telangana 2050: Envisioning Infrastructure and Real Estate for the Future
This white paper explores the intricate relationship between infrastructure development and real estate growth in Telangana, drawing inspiration from Chief Minister Sri A Revanth Reddy’s vision for the state's future.
02/04/2024
Research
West Bengal-The Gateway to New Growth for Corporate India
The report highlights the level of development in West Bengal and how various reforms are being formed by the state government to attract investors. The report delves into various industrial reforms, and realty reforms that will help in the economic activity of the state.