Knight Frank India today launched the ninth edition of its flagship half-yearly report - India Real Estate. The report presents a comprehensive analysis of the residential (across eight cities) and office (across seven cities) market performance for the period January June 2018 (Hi 2018).
- Highest HI transaction volume in 6 years; robust growth at 13% YoY. increased space take-up by the 'Other Services' sector aids transaction volumes
- Pune experiences maximum growth in transactions at 118%; Bengaluru continues to clock the highest transaction numbers
- New completions remain subdued\ down 10% YoY
- Mumbai sees maximum space come online while NCR sees the most YoY growth in office supply
- New completions continue to be inadequate in the face of robust transactions, keeping vacancy levels low; Bengaluru leads southern region with lowest vacancy
- Most Indian cities experience strong positive rental growth. Bengaluru sees highest growth at 17% YoY; greater share of relatively lower priced business districts leads to reduced rentals for Mumbai
- Co-working service providers account for 13% of total transacted space - an emerging trend; IT/ITeS share declines