Learn more by clicking our most recent Bengaluru MarketBeat reports on the various sectors below.
Bengaluru MarketBeat Reports
03/07/2024
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
Bengaluru Office Report
Bengaluru recorded gross leasing volume (GLV) of 5.5 MSF in Q2, an 83% growth y-o-y. Net absorption stood at 2.5 MSF, a 4.5x jump y-o-y. Fresh leasing comprised 60% of quarterly GLV while pre-commitment’s share rose to 35% from 28% in Q1 2024. BFSI sector led with 38% share followed by IT-BPM (25% share) and flex space operators (14% share). Quarterly supply was recorded at 2.1 MSF, a slowdown on q-o-q and y-o-y basis. City-wide rentals remained stable q-o-q with supply keeping pace with demand.
Bengaluru Retail Report
In Q2 2024, Grade A malls in Bengaluru recorded ~0.15 MSF of leasing activity, a near 4X jump q-o-q and a 15-20% expansion compared to Q2 2023. Hypermarkets comprised nearly two-thirds of quarterly leasing followed by fashion (12%) and entertainment (10%). Main streets saw ~ 0.16 MSF of leasing volumes, 10% q-o-q growth and a 47% jump compared to Q2 2023, driven by fashion (33%) & F&B (24%) segment prominently. Suburban main streets saw 5-7% q-o-q rental growth, while mall rentals largely remained unchanged.
Bengaluru Residential Report
Bengaluru residential market saw 13% quarterly growth and 23% expansion compared to Q2 2023. Eastern submarket captured around 41% of quarterly launches, followed by south and south-east submarkets cumulatively contributing around a third of launches. The northern submarket accounted for a 27% share. The Mid-segment comprised half of the total unit launches. The high-end and luxury launches more than doubled on a quarterly basis. Capital values grew 4-5% q-o-q in the east and north submarkets. 5-7% q-o-q rental growth was witnessed across key IT hubs in the east and south-east submarkets.
Bengaluru Industrial Report
Bengaluru saw 2.7 MSF of warehouse leasing volumes, a 36% growth from H1 2023. Eastern corridor dominated with 41% share followed by west Bengaluru (~39% share). 3PL and manufacturing firms comprised 36% and 28% shares respectively. Industrial leasing volumes reached over 0.6 MSF, a near 2.5x jump from H1 2023. Warehouse rentals increased 8-10% y-o-y at Nelamangala and Hoskote. Industrial rentals increased 6-8% y-o-y at Doddaballapur and Hoskote.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Insights
India, the world’s fastest-growing economy, is set to reach USD 5 trillion by 2027, becoming the third largest globally. This growth will bring numerous opportunities, especially in consumption-driven sectors like retail.
19/09/2024
Research • Workplace
From Flex to Managed: Evolution of the Flex Space Industry
The evolution of the flex segment in India’s office market has been a story of rapid transformation. The flex space operator footprint surged by 23% in 2022 and 18% in 2023, marking the sharpest rise seen in history! With H1-24 already adding about 5 MSF to the total inventory, 2024 continues to maintain this momentum.
03/09/2024
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023