Knight Frank

Property market steady in Jan-Mar; housing sales up 1%: Knight Frank

Indian real estate witnessed steady demand during January-March with housing sales rising by 1 per cent and gross office space leasing growing by 5 per cent year-on-year across eight major cities, Knight Frank India said on Monday. Housing prices rose in the range of 1-7 per cent annually in the first quarter of this calendar year, while office rentals grew 2-9 per cent, according to real estate consultant Knight Frank 'India Real Estate' report released on Monday. As per the data, housing sales stood at 79,126 units across eight major cities during January-March 2023, up by marginal 1 per cent from the year-ago period. The gross office leasing rose 5 per cent to 11.3 million square feet in January-March, from 10.8 million square feet in the corresponding period of the previous year. "The residential market remained resilient in the face of rising interest rates and prices as sales level sustained in the first quarter of the year," Knight Frank India Chairman & Managing Director ..

Registration of properties in Mumbai city falls 11% to 9,268 units in Feb

Registration of properties in Mumbai city fell 11 per cent year-on-year in February to 9,268 units amid rise in interest rates on home loans, according to Knight Frank India. As many as 10,379 properties were registered in February last year. Registration of properties stood at 10,172 in February 2021. Real estate consultant Knight Frank India in a statement said Mumbai city (area under BMC jurisdiction) saw property sales registration of 9,268 units in February 2023. The registration of properties contributed over Rs 1,084 crore to the state revenues. Of the total properties registered, 82 per cent were housing properties while 18 per cent were non-residential properties. Shishir Baijal, Chairman & Managing Director of Knight Frank India, said, "The state exchequer made significant revenues from property registration due to a rise in average value of properties registered in February 2023." In February, the average value of properties registered was recorded at Rs 1.9 crore whic

Mumbai, Bengaluru among top 5 APAC cities with the steepest home price rise

Delhi was also on the list of top ten such cities with an average price rise of 6.8 per cent in the second half of 2022

Registration of properties in Mumbai up 7% to 8,694 units in Jan: Report

Registration of properties in Mumbai city rose 7 per cent year-on-year during this month to 8,694 units on better demand, according to Knight Frank India. Property consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) saw property sales registration of 8,694 units in January 2023, contributing over Rs 658 crore to the state revenues. The registration figure is till 12 noon and will increase slightly by end of the day. Of the total properties registered, 84 per cent were residential while 16 per cent were non-residential properties. The data pertains to transactions in both primary (fresh sales) and secondary (re-sale) markets of all types of properties -- residential, commercial and others. However, the registration of properties fell 7 per cent in January when compared to December, which saw 9,367 units registration. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "Despite strong headwinds consumer inclination toward home purc

Sentiment in realty sector drops in Dec qtr but remains positive: Report

The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions

Wealth of 9 in every 10 ultra-rich Indians rose in '22: Knight Frank report

This was more than the global average where 4 in every 10 UHNWI saw wealth growth

Despite rate hikes, residential sales in India at 9-year high: Knight Frank

Along with the rise in sales, new home launches also rose a significant 41 per cent to 328,129 units in 2022

Bengaluru may see highest growth in office rent at 5-7% next year: Report

Office rentals in Bengaluru is expected to grow by 5-7 per cent -- highest in the Asia-Pacific region -- during the next year, according to Knight Frank India. In its latest report on 'AsiaPacific Outlook 2023', property consultant Knight Frank said that rent growth in the APAC region is expected to moderate in 2023 as corporate occupiers are looking to optimise overheads and generate savings. "The steady performance of the Indian office markets seen in 2022 is expected to sustain in 2023," it said. Bengaluru's prime office rental is expected to grow in the range of 5-7 per cent YoY (year-on-year) in 2023, highest amongst the 24 APAC cities tracked in the report. Mumbai and New Delhi are the other Indian cities tracked in the report. New Delhi's prime office rental is expected to grow in the range of 4-6 per cent YoY followed by Mumbai in the 3-5 per cent YoY in 2023. The consultant attributed the expected growth in office rentals to a comparatively strong economic outlook, ...

Registration of properties in Mumbai rises 15% to 8,756 units in November

Registration of properties in Mumbai municipal region rose 15 per cent this month to 8,756 units on higher demand despite an increase in interest rates, according to Knight Frank India. In November 2021, the registration of properties stood at 7,582 units. Growth in property sale registrations in Mumbai continues to remain robust with some moderation recorded in the recent months, the consultant said. "Supported by strong consumer sentiment and supportive drivers, the Mumbai residential market has grown despite geopolitical headwinds," Shishir Baijal, Chairman and Managing Director of Knight Frank India, said. "As the festival season that drove market sentiment in the last month ends, November 2022 remains a beneficiary to the sustained momentum recording a YoY rise in property sales and government revenue collection," he added. However, Baijal said the growth rate appears to have moderated marginally due to the increased mortgage rates. Properties falling in the price bracket of

Mumbai takes 22nd spot in Prime Global Cities Index Q3 2022: Report

Mumbai stood at 22nd rank in a global index that measures annual price appreciation of premium residential properties, according to Knight Frank. In its report on 'Prime Global Cities Index Q3 (July-September) 2022', Property consultant Knight Frank said that all three Indian cities -- Mumbai, Bengaluru and New Delhi -- registered an increase in average annual prices in the third quarter of 2022. The prime global cities index is a valuation-based index tracking the movement in prime residential prices in local currency across 45-plus cities worldwide. Mumbai moved up to 22nd rank in the third quarter of 2022 from 39th rank in the year-ago period. Bengaluru's rank also moved up to 27th as against 41st, while New Delhi's position improved to 36th rank from 38th rank. The rise in average prices in Mumbai was recorded at 4.8 per cent Year-on-Year (YoY), Bengaluru (3.3 per cent YoY) and New Delhi (1.2 per cent YoY) during the 12- month change (Q3 2021-Q3 2022). The consultant has ...

Future sentiment score hints a decline in housing market momentum in Q4

The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.

Bengaluru fourth most expensive real estate market in India: Knight Frank

Bengaluru's affordable housing market has become more costly due to the 50 bps hike in the repo rate by the RBI

Rising median loan rates lead to fall in affordability of homebuyers

A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank

67% housing demand in Mumbai from affordable segment: Knight Frank-Naredco

Supply of such housing insufficient to meet demand, says study

Warehousing transaction volumes grew 62% YoY in FY22: Knight Frank

NCR and Mumbai led the market on overall volumes, while Pune and Hyderabad witnessed the highest percentage growth, at 166% and 128%, respectively

Shopping mall sales in top-8 cities to hit $39 bn by FY28: Knight Frank

The high revenue growth has largely been predicted due to increasing mall supply in next six years, sustenance of rising consumption demand

'Property registrations in Mumbai up 20% YoY in Aug, slip from July-level'

Property registrations in Mumbai municipal area this month rose 20 per cent to more than 8,100 units -- highest in 10 years for August -- but fell 28 per cent from July, according to Knight Frank. Mumbai city (BMC area) saw property sale registrations of 8,149 units in August 2022, contributing over Rs 620 crore to the state revenues, Knight Frank India said in a statement. In July, the registration of properties stood at 11,340 units. "August 2022 was the best in a decade for the month of August in a decade," it said. The consultant highlighted that 85 per cent of the properties registered in August 2022 were residential and 9 per cent commercial. "The largest share of home buyers in August 2022 is in the 31-45 years of age category having a contribution of 47 per cent of the total residential property registrations. Buyers in the age group 46-60 years have a share of 32 per cent, while 12 per cent home buyers are under 30 and 9 per cent are over 60," Knight Frank said. Properti

Office leasing up after Covid waves, IT sector leads in occupancy: Reports

Bengaluru leads in lease transactions and it is followed by Delhi-NCR, Mumbai, and Chennai

Residential sales hit 9-year high in the first half of 2022: Knight Frank

The rise in sales is despite the overall prices of residential property rising over time. Prices, according to Knight Frank, increased across all markets in the range of 3 per cent - 9 per cent YoY

Housing sales in Jan-Jun at 9-year high in top 8 cities: Knight Frank

Delhi-NCR saw more than two-fold jump in sales to 29,101 units from 11,474 units, while sales of residential properties in Bengaluru grew by 80 per cent to 26,677 units from 14,812 units