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India Real Estate: January - June 2018 Report

 

Knight Frank India’s 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 (H1 2018)

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Office Takeaways:

  • Highest H1 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
  • Developers have pocketed 95% (USD 7.9 billion or Rs. 54,145 crores) of the total investments into office assets
  • New completions remain subdued, down 10% YoY
  • Developers have pocketed 95% (USD 7.9 billion or Rs. 54,145 crores) of the total investments into office assets
  • Mumbai sees maximum space come online while NCR sees the most YoY growth in office supply

Residential Takeaways

  • Launches concentrated at lower ticket sizes; 51% of total supply concentrated in the under INR 5 mn ticket size
  • Increased focus on lowering ticket sizes; Mumbai and Bengaluru, the largest markets, account for 56% of total supply during H1 2018. These markets experienced a significant rise in the share of units launched in under INR 10 mn and INR 5 mn respectively over H1 2016
  • Mumbai sees maximum growth in launches at 128% YoY while NCR and Pune see more than 75% growth. Reprieve on dumping ground issue fuels Mumbai’s growth
  • Price drop intensifies in Mumbai, Pune and Kolkata at 9%, 8% and 8% respectively. ‘Effective’ price drop of 10-15% continues in cities like Mumbai, NCR, Pune and Kolkata. Hyderabad bucks the trend with an exceptional price growth at 8% YoY