As Asian countries address the new realities of ageing crisis and increasing life expectancy, senior living is now becoming a next bet for investors. According to recently released Colliers Research report on Senior Housing Outlook 2018, countries such as Japan have grappled with an ageing population for some time, others are just beginning to realise that they will need to act quickly in order to address ageing-related issues.
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India witnessed a growth of 85% in property investments in the first nine months of 2017, compared to the same period last year, says Colliers International’s recently released report titled ‘Of High Growth, Low Real Rates and Black Swans’.
The report highlights the need for new urban centers in the country, and shortlists 45 potential mega-cities such as Nagpur, Lucknow, Jaipur, Kochi and Bhopal, among others.
With about 10 million sq ft (0.9 million sq m) of office leasing in Q3, gross absorption totalled around 28.9 million sq ft (2.7 million sq m) over the first nine months.
A high rental growth was seen mostly in South cities like Bengaluru, Chennai and Hyderabad where y-o-y change ranged between 8-17% at some locations. In H1 2017, Bengaluru and Hyderabad both witnessed single digit vacancy levels hovering between 8-9% due to a dearth of quality Grade A stock, thus leading to increased rental values in some micro markets.
As per Colliers Research, RERA and GST compliance will remain a challenge for several developers for at least the next six months. We expect a decline in the number of launches in H2 2017. However, the sales are likely to pick up during the festive season due to higher optimism among buyers after RERA.
Despite delayed implication of demonetisation and recent layoffs by technology companies, due to automation and changing technology, commercial market continued to remain resilient, backed by sustained expansion plans of the major occupiers. The Gross office take-up in India amounted to 9.6 mn sq ft (882,800 sq m) in Q2 2017 representing a nominal 2% increase Q-o-Q from 9.3 mn sq ft (Total office absorption in H1 2017 stands at ~18.9 mn sq ft, as per Colliers Research marginally down by 2% from, H1 2016)
The top 8 cities witnessed residential launches of approximately 25,800 units in the first quarter of 2017 and registering a 16% decline from the corresponding period last year, says a report by Cushman & Wakefield.
News Point: Approximately 2 mn. sq. ft. of warehousing space…
Bottom Line: Following a strong fourth quarter of 2015, the…