Learn more by clicking our most recent Pune MarketBeat reports on the various sectors below.
Pune MarketBeat Reports
30/09/2024
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
Pune Office Report
Pune’s quarterly gross leasing volume (GLV) stood at 3.2 MSF in Q2 2024, a 1.6X jump from Q1 2024. Term renewals of 1.3 MSF witnessed, 1.2X the quarterly average of term renewals for the past 5 years. Fresh leasing activity during the quarter witnessed a slowdown from Q2-23. SBD East submarket led with 50% share followed by SBD West at 33%. Flex space and BFSI drove the quarterly leasing activity with 32% and 20.4% share respectively. Net absorption of 0.4 MSF was witnessed. City-wide headline rentals have remained stable q-o-q.
Pune Retail Report
Pune’s grade-A malls saw ~ 59,013 SF of leasing in Q2 2024. Mall leasing was 2x higher than in Q2-23 before new retail supply addition. Fashion segment dominated with a 30% share, followed by F&B at 13%. H1 2024 recorded close to 0.25 MSF in total mall leasing, 4x higher than H1 2023. Prominent main streets in Pune witnessed leasing of 34,265 SF, a 3% rise on a y-o-y basis. Grade A mall vacancy witnessed a 21 bps dip to 7.74%. Main street rentals saw a 7-8% rise on y-o-y basis, while mall rentals largely remained unchanged.
Pune Residential Report
Pune’s residential market saw 11,517 unit launches, a 35% rise from Q2-24. The mid-segment led with 43% share, followed by high-end units at 37%, which saw a 45% increase from the quarterly average of last 3 years. Luxury unit launches saw a 116% growth over the same quarterly period average. NH-4 Bypass dominated with 43% share followed by northern peripheral submarket (16%). Capital values in the northern peripheral market rose by 10-12% y-o-y. Re-development projects in high-density areas increased rentals by 8-10% in nearby localities.
Pune Industrial Report
Pune saw 1.78 MSF of warehouse lease transactions in H1 2024, a 21% rise from H2 2023. Automobile sector dominated with ~40% share, recording highest warehouse leasing share in the city. Chakan submarket commanded a 54% share. Pune recorded 4.2 MSF of industrial lease transactions, a 34% rise y-o-y. Engineering and manufacturing captured 56% share, followed by automobile sector (14.6% share). Chakan led Industrial leasing with 71.1% share. City-wide rentals saw 6-8% y-o-y increase.
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