Learn more by clicking our most recent Mumbai MarketBeat reports on the various sectors below.
Mumbai MarketBeat Reports
30/01/2025
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
Mumbai Office Report
Mumbai office market saw gross leasing volume (GLV) of 4.61 SF, a 4% q-o-q growth, attributed to a 19% rise in fresh leasing. The city achieved a record high net absorption of 10.93 MSF in 2024, a 3X growth compared to 2023 while the net absorption for Q4 stood at 4.11 MSF, a 55% q-o-q increase. BFSI led with 43% share, followed by flexible workspace and IT-BPM, 17% and 9% share respectively. Q4 saw project completions of 3.7 MSF, surpassing the previous peak of Q2-24 by 40%. City-wide vacancy declined to 15%, while rentals increased by ~2.0-2.1% q-o-q.
Mumbai Retail Report
Mumbai malls saw leasing volumes of 0.19 MSF in Q4-24, an 18% q-o-q growth. Suburban malls in the western and eastern part of the city accounted for above 63% of the share. Fashion segment led with 29% share, followed by furniture & furnishing sector (23%). Domestic brands comprised over 60% of the leasing activity. Main street leasing surged 4X compared to Q3-24, led by the fashion segment (40%), and followed by the accessories & lifestyle, CDIT, and F&B sectors, accounting for a 12% share each. Prominent main street rentals appreciated 6-7% while city-wide mall rentals grew 1-5%.
Mumbai Residential Report
Mumbai residential market recorded 17,663 unit launches in Q4-24, a 6% y-o-y increase. Eastern corridor led with 55% share. Mid segment dominated new launches, comprising 72% share followed by the high-end segment (25%). Among mid-segment launches, extended eastern suburbs was most preferred with a 25% share, followed by extended western suburbs (16%) and Thane (13%). Capital values rose significantly by 29% y-o-y, while rentals remained steady.
Mumbai Industrial Report
Mumbai’s warehousing sector saw leasing activity of ~3.8 MSF in H2 2024, a 31% increase from H1-24. Bhiwandi submarket dominated with 86% share. 3PL led with more than 50% deals, followed by FMCG (16% share). Industrial leasing of 0.3 MSF was recorded, which was more than 2X the volume for H1-24. Engineering & Manufacturing led with ~45% share, followed by FMCG (~22% share). Overall vacancy rates grew 3% from H1-24. Land values in Thane-Belapur Road, Panvel and JNPT& Uran Road submarkets grew 8-9% y-o-y.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Insights • Investment / Capital Markets
Mumbai’s Office-SEZs get a new lease of life as leasing volume surge
Mumbai witnessed an unprecedented rise in leasing done in SEZ-designated (Special Economic Zone) buildings with 1.50 MSF of lease transactions recorded in these buildings in 2024.
06/02/2025
Insights
Kolkata – Emergence of a Major Warehousing and Logistics Destination
Kolkata’s emergence as a major national warehousing and warehousing destination over the past few years highlights a significant shift in the city’s and region’s real estate sector and puts it on a firm pedestal for future growth.
06/02/2025
Podcast
Podcast: Logistics & Industrial in India
With international business looking seriously at India to take advantage of the world's second largest population - India is a complex and fascinating part of the world, for both investors and occupiers alike.
Rob Hall • 16/10/2020