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.
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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 • Workplace
In this guide we provide you with a comprehensive office fit out cost breakdown. Read on to find out more.
Dominic Brown • 05/03/2025
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
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