January 28, 2015: Knight Frank India today launched the second edition of its flagship
half yearly report - India Real Estate Outlook. It presents a
comprehensive analysis of the residential and office market performance
across six cities for the period between July–December 2014.
India Residential Overview
"However, we expect 2015 to be the year of recovery and stabilization. The current economic indicators look positive, though the real impact will only be felt by the second half of this year. A surprise rate cut from RBI has marked the beginning of the new year and going forward, the Make in India campaign, REITs, FDI relaxation and Smart cities among others, augurs well for giving the much needed boost to stakeholder sentiments.
Knight Frank India today launched the second edition of its flagship half yearly report - India Real Estate Outlook. It presents a comprehensive analysis of the residential and office market performance of Mumbai for the period between July–December 2014.
Mumbai Residential Overview
Mumbai Office Overview
India Residential Overview
- Housing sales drop 17% across six cities- Will developers gear up to ride the recovery bus?
- Delhi-NCR sees the sharpest drop in home sales; Mumbai manages to scrape through
- All eyes on the Union Budget; focus on affordable homes & Infra to expand volumes
- Market heaves a sigh of relief; uptake happening across all regions
- Positive outlook on driver industries to aid office growth, even further
- Will REITs be the game changer? Patience & prudence will pay dividends
Speaking about the findings, Shishir Baijal, Chairman & Managing Director,
Knight Frank India said “2014 has not been a great year for Indian Real estate as stated in our latest findings of the Knight Frank Real Estate Sentiment index report, jointly developed by FICCI that reflected a correction in stakeholder sentiments on the back of a slowing demand environment. Residential sales across top cities have dropped in 2014. While sales volume fell by 17%, launches dropped by 28%.
Knight Frank India said “2014 has not been a great year for Indian Real estate as stated in our latest findings of the Knight Frank Real Estate Sentiment index report, jointly developed by FICCI that reflected a correction in stakeholder sentiments on the back of a slowing demand environment. Residential sales across top cities have dropped in 2014. While sales volume fell by 17%, launches dropped by 28%.
"However, we expect 2015 to be the year of recovery and stabilization. The current economic indicators look positive, though the real impact will only be felt by the second half of this year. A surprise rate cut from RBI has marked the beginning of the new year and going forward, the Make in India campaign, REITs, FDI relaxation and Smart cities among others, augurs well for giving the much needed boost to stakeholder sentiments.
“However, Office markets across the top six cities have already shown a
turnaround in 2014. In fact vacancy levels have been on a downward
spiral since 2013. While absorption rose by 14%, new completions
contracted by 6% during 2014. Vacancy levels in Bengaluru have already
touched 10% as of December 2014 and we expect the city to clock single
digit vacancy levels in the next six months. Growth in the office market
is going to sustain owing to a strong revival in driver industries and
recovery in the global economy” he added.
Knight Frank India today launched the second edition of its flagship half yearly report - India Real Estate Outlook. It presents a comprehensive analysis of the residential and office market performance of Mumbai for the period between July–December 2014.
Mumbai Residential Overview
- After a tumultuous 2013, Mumbai on the path to improvement
- City realtors breathe easy as unsold inventory begins to drop
- New Infra projects in the city; Improved connectivity to keep prices in check
- Office absorption at a three year high; Central Mumbai leads among premium markets
- ICICI, Reliance Capital & Deutsche Bank get BFSI back in the running
- Will Modi‟s „Make in India‟ give the additional thrust? Manufacturing remains unenthused.