Learn more by clicking our most recent Mumbai MarketBeat reports on the various sectors below.
Mumbai MarketBeat Reports
21/10/2024
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
Mumbai Office Report
Mumbai office market saw gross leasing volume (GLV) of 5.25 MSF, a 10% rise from Q2-24, driven by fresh leases, comprising 63% share followed by renewals (34%). IT-BPM led with 23% share, followed by BFSI (21%) and professional services (13%). Q3 GLV was concentrated in Malad-Goregaon (23%), Powai (20%), and Lower Parel (13%). Net absorption stood at 2.64 MSF, a 54% q-o-q rise. Vacancy rate of 15.8%. was recorded in Q3. City-wide market rentals rose by 8-10% over the year.
Mumbai Retail Report
Mumbai malls saw leasing volumes of 0.16 MSF in Q3-24, a 23% q-o-q and 76% y-o-y growth. Prominent malls in suburban areas contributed ~64% of leasing activity. City-wide mall vacancy dropped to 7.06%. Superior malls maintained tight vacancies of 1-3%. Fashion segment led with 37% share, followed by furniture & furnishing sector (25%). International brands comprised 51% of Q3 mall leasing. Main street leasing stood at 0.06 MSF, led by furniture & furnishing (25%), followed by accessories & lifestyle (17%) and F&B (15%). Rentals in main streets grew by of 5-7% and in malls by 1-4% y-o-y.
Mumbai Residential Report
In Q3-24, Mumbai residential market recorded 18,313 unit launches, a 5% q-o-q increase. Navi Mumbai led with 20% share followed by the eastern suburbs (19%) and the western suburbs (19%). Mid segment dominated new launches, comprising a 47% share. Among mid-segment launches, Thane was most preferred with a 35% share, followed by Navi Mumbai (24%) and the western suburbs (22%). City-wide average rental values have remained range-bound while capital values grew 12% y-o-y.
Mumbai Industrial Report
Mumbai’s warehousing sector saw leasing activity of ~2.87 MSF in H1 2024. Bhiwandi submarket dominated with 98% share. 3PL led with more than 65% of deals, followed by retail (17% share). Large scale deals in Bhiwandi submarket comprised ~ 46% of deals. Industrial sector saw leasing activity of 0.13 MSF. Warehousing rentals in JNPT road, Panvel and Khopoli witnessed steady growth. The land value in Panvel, Taloja and Uran submarkets saw stellar annual growth driven by infrastructure upgrades. Land values in Thane Belapur Road continued to witness an uptrend.
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
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
Insights • Workplace
In this guide we provide you with a comprehensive office fit out cost breakdown. Read on to find out more.
Dominic Brown • 19/03/2024
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023