Learn more by clicking our most recent Kolkata MarketBeat reports on the various sectors below.
Kolkata MarketBeat Reports
06/04/2023
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
Kolkata Office Report
Kolkata's office leasing activity slowed in Q2-2023, with a significant decline compared to the previous quarter and a year ago. While some occupiers are adopting a cautious approach, large-sized deals are expected to be completed in the upcoming quarters. Vacancies have consistently dropped for last seven quarters due to negligible new supply and improved leasing activity. The market is expected to remain rangebound due to demand-supply dynamics.
Kolkata Retail Report
Kolkata witnessed retail leasing volumes of ~45,000 sf in Q2 2023, a decline of around 20% as compared to the previous quarter. Main streets continue to dominate the leasing volume with a 70% share. No new mall supply seen in Q2. Moreover, rents rose across Grade-A malls and prominent main streets.
Kolkata Residential Report
Kolkata saw a 78% y-o-y increase in new project launches in Q2 2023, with 4,750 units. RERA implementation and government incentives drove registrations. The mid-segment dominated with a 58% share of quarterly unit launches with the affordable segment contributing 41%. Rental values in prime office areas rose by 14-15% due to employees returning to work, thereby creating more demand for rental apartments.
Kolkata Industrial Report
Warehouse leasing volumes in Kolkata experienced a significant decrease of 53% in H1 2023 compared to the same period in the previous year. City-wide warehouse rentals increased by ~10% y-o-y, and land prices rose by ~10-12% in NH2 and NH6. There were no notable industrial transactions in H1 2023.
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.
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