Bengaluru MarketBeat Reports
Bharath K s
Real Estate Professional | Founder of bengaluruadmission.com | Successfully Matched 60+ Homebuyers with Their Perfect Properties | Dedicated to Finding Your Dream Home | RERA Certified Real Estate Agent
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels. CURRENT MARKETBEATS
Bengaluru Office Report
Bengaluru office market recorded gross leasing volume (GLV) of 6.9 MSF in Q3-24, a 24% q-o-q growth. Net absorption stood at 4 MSF, marking a 60% q-o-q growth. IT-BPM dominated with 45% share followed by flex space operators (12% share). Outer Ring Road comprised 50% of GLV, followed by Peripheral North (19%) and Peripheral East (13%). New supply of 5 MSF in Q3, marking ~2X q-o-q growth, was led by Peripheral North (35%) followed by ORR (24%).
Bengaluru Retail Report
Bengaluru saw retail leasing volumes of ~0.2 MSF, a 10% y-o-y growth, with malls capturing 44% of the share. Space leased in malls stood at ~0.09 MSF, a 15% y-o-y growth. Mall leasing was dominated by the fashion segment (53%) followed by furniture (24%) and F&B (10%). Main street leasing stood at ~0.11 MSF, a 5% y-o-y growth, comprising 56% of Q3 leasing volumes. Fashion segment led main street leasing with 28% share, followed by F&B (20%). City-wide mall vacancy dropped to 11.2%. Mall rentals remained stable while prominent streets witnessed a quarterly rental growth of 2-3%.
Bengaluru Residential Report
In Q3-24, Bengaluru residential market recorded ~9,000 unit launches, a 9% y-o-y growth, dominated by the eastern and northern submarkets. North Bengaluru accounted for a quarter of the unit launches followed by south Bengaluru (16%) and south-east Bengaluru (8%). The high-end and luxury segment contributed ~ 50% of Q3 unit launches, a 21% q-o-q growth. Capital values rose 8-9% y-o-y across the active eastern and northern submarkets, while rentals grew by 4-5% across IT corridors.
Bengaluru Industrial Report
Bengaluru saw 2.7 MSF of warehouse leasing volumes, a 36% growth from H1 2023. Eastern corridor dominated with 41% share followed by west Bengaluru (~39% share). 3PL and manufacturing firms comprised 36% and 28% shares respectively. Industrial leasing volumes reached over 0.6 MSF, a near 2.5x jump from H1 2023. Warehouse rentals increased 8-10% y-o-y at Nelamangala and Hoskote. Industrial rentals increased 6-8% y-o-y at Doddaballapur and Hoskote.