2023-05-10-莱坊-INDIA_REAL_ESTATE_-_Office_and_Residential_Market_-_Jul-Sep_2022_4页_1mb

Office Market Summary

Transaction volumes increased significantly during Q3 2022, reaching a seven-quarter high and exceeding pre-pandemic 2019 levels, with a 29% year-on-year growth from Q3 2021. All cities showed year-on-year growth, driven by market resilience post-pandemic. Co-working spaces accounted for 23% of transacted space, with Bengaluru leading at 45%. Rental levels stabilized or grew across all markets, with Bengaluru recording 13% YoY growth. New completions rose 9% YoY, with Bengaluru contributing 37% of the total, and prices increased steadily in all segments.

Residential Market Summary

The residential sector recovered swiftly, with sales volumes at record levels, 15% YoY growth in Q3 2022, and high demand fueled by lifestyle upgrades and economic factors. All major cities saw significant sales increases, with Mumbai growing 35% YoY. Unsold inventory remains elevated but stable, with a reducing Quarter to Sell (QTS) indicator. Supply volumes also grew, matching demand, though rising interest rates tempered some sales due to inflation concerns.

Market growth aligns with a post-pandemic recovery, with resilience driven by occupier demand and external economic conditions.