Track2Realty: Over the past year, Mumbai continued to remain a preferred city for both domestic and foreign brands keen to open their first outlets or expand their presence across India. The city’s favorable demographics, along with the availability of investment-grade retail space, led to strong demand from retailers for shopping space.
Track2Realty: CBRE received 11 national awards and the peak regional award for Best Property Consultancy for the second year running at the prestigious Asia Pacific Property Awards 2014. CBRE India received the Highly Commended award in the Property Consultancy category for the second year in a row.
Track2Realty: A burgeoning automobile ancillary industry and the IT/ITeS sector’s growing presence have been the major growth drivers behind the notable transformation of Maharashtra’s second largest city—Pune. Over the past couple of years, the city’s IT sector in particular has seen significant growth, leading to sustained demand for office space in the city.
Track2Realty: Transactions in India’s real estate space might have slowed down over the last two quarters, but the sector has not been overwhelmed by the state of the wider economy. Despite the subdued pre-election economic scenario, in fact, the period observed an increase in private equity activity.
Track2Realty: There are still significant investment opportunities left in India’s real estate market. For investors looking at cost-effective projects to park their funds, this might be a right time as weak market sentiments are likely to lead to weak valuations, providing windows for investing in quality projects.
Track2Realty: The economic downturn has subdued office and retail markets, resulting in a sales slowdown as well as pressurized capital values across leading cities—according to CBRE Research’s year-to-date coverage of trends in India’s real estate sector.
Track2Realty: Less than 3 million sq.ft of office space entered India’s prime real estate market in the quarter ending September 2013—dropping by more than 75% q-o-q over last quarter’s 10 million sq.ft of fresh office space supply; and by nearly 50% over the same period last year.
Track2Realty: Mumbai witnessed sluggish commercial leasing activity during the third quarter of 2013. The micro markets of Lower Parel, Thane and Navi Mumbai witnessed maximum traction and were the preferred region for office space leasing. Rental values in Mumbai remained largely stable with marginal dip in the CBD and ABD locations, according to the findings of CBRE’s latest report,India Office Market View Q3 2013.
Track2Realty-Agencies: The realty sector can more than double its contribution to GDP to 13 per cent by 2025 on rising housing demand, if the government removes bottlenecks in infrastructure, lowers borrowing cost and makes process of approvals shorter, global property consultant CBRE said.
Track2Realty: The prime office space segment across key cities in India are witnessing an improvement in sentiment from last year. According to CBRE’s latest report, India Office Market View Q1 2013, prime office space absorption across key cities in India witnessed approximately 17% increase in Q1, 2013 as compared to Q1, 2012.