India Real Estate - Office and Residential Market (Knight Frank) 06 October 2023
Explore the Q3 2023 report on India's commercial office and residential sectors. Commercial leasing hits 16 MSF, while the residential market maintains robust sales, but affordable housing demand decreases.
- Residential demand in Q3 2023 trended up significantly to 82,612 units, 12% higher in YoY terms and 7% higher compared to the preceding quarter.
- It is particularly noteworthy considering that it also constitutes an almost six-year high in quarterly sales volumes. Sales traction was higher across all markets in YoY terms.
- Price levels have also grown in tandem with demand across all markets in YoY terms. Price levels in Hyderabad saw the most significant rise at 11% YoY as focus increasingly shifts toward the development of premium high-rise properties.
