Mumbai MarketBeat Reports
Suvishesh Valsan • 01/10/2025
Cushman & Wakefield Mumbai 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 MSF in Q2-25, reflecting a strong demand from Flexible workspaces, followed by BFSI (23% share) and IT-BPM (16% share). Fresh leases comprised a significant 64% share of Q2 GLV. Net absorption stood at 2.6 MSF, the highest recorded in the city during Q2. The city witnessed new supply of 0.9 MSF, a 4X q-o-q increase. Stock-weighted average rents saw a 0.6% q-o-q increase.
Mumbai Retail Report
Mumbai recorded retail leasing volumes of ~0.59 MSF in Q3-25, up 13% q-o-q, driven by fashion (~40%), F&B (~15%), and entertainment (10%) segments. Domestic retail brands constituted a massive 80% share. Malls remained the dominant preference (84% share), highlighting 2.1X growth y-o-y while main streets contributed 16% share. Vacancy stood at 4.8%, with no new supply addition.
Mumbai Residential Report
Mumbai recorded 15,388 residential unit launches in Q3-25. Navi Mumbai led with 39% share, followed by Extended Western Suburbs, accounting for 23% share. The mid-segment dominated with 9800 units, comprising a 65% share, while high-end and affordable segments each contributed a 17% share. Weighted average capital values decreased by 8% q-o-q, while rentals values rose 1-2% q-o-q.
Mumbai Industrial Report
Mumbai saw warehouse leasing of 6.2 MSF in H1 25, a 114% rise over H1 24. Bhiwandi submarket dominated with over 80% share. 3PL operators led with a 53% share. Industrial segment recorded 0.8 MSF of leasing, a 2.7X jump from H2 24. Khalapur led with 86% share. Warehouse land rates grew in Thane Belapur Road (17%), Rasayani-Patalganga (17%), Taloja Industrial Estate (25%) and Pen Khopoli Road (36%), compared to H2-24.
India Capital Market Report
Cushman & Wakefield India Capital 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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