“While we continue to see the impact of the pandemic on various businesses, there is a significant surge in activity across most office markets under consideration. This is seen in gross leasing which more than doubled from the previous quarter at 13.8 million sq ft,” said Ramesh Nair, CEO and Country Head, India, JLL.
Many Japanese investors and developers are looking to increase their investments in India’s real estate sector, as they look to tap opportunities in the Asia’s largest economy.
Tourists from home and abroad have long flocked to the coastal state of Goa, where the market is currently rising as a result of restrictions on foreign buyers.
The residential property market is not out of the woods yet but has seen a continuous uptick in sales volume since 2017 despite economic slowdown and subdued consumer sentiment, and the industry hopes to match the 2013 peak levels in a year or two.
Property prices in key cities across the world increased by 3.5% on average in the second quarter of 2019, led by annual growth of 25% in Xi’an in Chine, the latest international index shows.
New Delhi has emerged as the 10th fastest growing prime market in the world with an annual capital value growth of 4.4% in the second quarter of 2019. However, the property market has slipped three places in the overall ranking during the quarter from 7th position in the first quarter, showed Knight Frank’s Prime Global Cities Index.
The year saw sales volume recording marginal growth of 3% at 63,893 units, while total launches rose 74,363 units denoting 220% rise.
Over 80% leasing by flexible space operators in Delhi-NCR, Bangalore, Mumbai
The average occupancy costs – including rent, taxes and service charges – in Connaught Place are at $142, which is higher than Pudong in Shanghai, Shinjuku in Tokyo and even Singapore.
Bengaluru reported the highest demand for office space and accounted for more than the combined share of the markets of Delhi-NCR, Mumbai and Hyderabad during the January to March period
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