Learn more by clicking our most recent Mumbai MarketBeat reports on the various sectors below.
Mumbai MarketBeat Reports
03/11/2023
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
Mumbai Office Report
In Q3-23, Mumbai witnessed strong leasing activity with gross leasing volume recorded at 3.47 msf. The BFSI sector continues to lead sectoral share of quarterly GLV with ~ 25% share, while Lower Parel & Malad-Goregaon enjoyed one of the highest quarterly leasing activity shares. Vacancy rates declined due to limited new supply. Rentals saw an uptick of 2.1% y-o-y.
Mumbai Retail Report
In Q3, 2023 Mumbai recorded sustained leasing momentum of around 93,000 sf in malls. The fashion segment drove quarterly leasing with more than a 50% share in leasing volume, followed by the Entertainment segment. City-level mall vacancy remained steady at 8.3% during Q3, 2023. Malls and main street rentals saw a rise on a q-o-q basis.
Mumbai Residential Report
In Q3 2023, Mumbai's residential sector witnessed a drop of 31% as compared to the same period last year. This quarter continued to witness land acquisitions, re-development projects and JV announcements. Affordable and Mid-segments dominated quarterly launches with 34% & 30% market share, respectively. Quoted capital values recorded an increase of 2-4% on a quarterly basis.
Mumbai Industrial Report
In the second half of 2022, Mumbai's warehousing sector experienced sustained leasing momentum in the first half of 2023, driven primarily by the 3PL (Third-Party Logistics) capturing a significant 57% of the market share, followed by the Retail sector with a 23% share. Additionally, the industrial sector saw increased leasing activity in H1 2023, led by Engineering & Manufacturing companies. Regarding rentals, TTC MIDC and Bhiwandi submarket witnessed an uptick of 4-5% over H2 2022.r saw healthy leasing activity of approx. 6 msf, about a 32% growth over H1 2022.
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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