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Retail sector leasing grew by 130 per cent YoY to reach 1.5 million square feet in Jan-March 2023, according to a report by Coldwell Banker Richard Ellis (CBRE), an American real estate firm.
The report titled 'India Market Monitor - Q1 2023' found that growth was most notable in Ahmedabad, Delhi-NCR, Bangalore, and Chennai.
The report stated that the fashion and apparel segment had a share of 31 per cent in the leasing sector, which was followed by Homeware and Department stores at 19 per cent.
Talking about real-estate in the residential sector, the report said that the sector is likely to maintain its momentum in terms of sales and launch activity.
The report stated that the fashion and apparel segment had a share of 31 per cent in the leasing sector, which was followed by Homeware and Department stores at 19 per cent.
Talking about real-estate in the residential sector, the report said that the sector is likely to maintain its momentum in terms of sales and launch activity.
The report said that a jump of 12 per cent was registered in housing sales in Q1 2023. With 43 per cent and 27 per cent shares in the mid-end and high-end residential real-estate, these two categories dominated the space.
High-ticket projects that cost Rs 1.5 crore or more would continue to see high-demand. The impact of rising home loan interest rates is likely to be limited, the report said.
Anshuman Magazine, Chairman and CEO - India, CBRE, said, "Retail supply this year is expected to surpass 2022 levels owing to pent-up supply addition, with several investment-grade projects launched in the past two years set to become operational in 2023. This would give a fillip to primary leasing, which is likely to be the main demand driver for retail space in 2023.”
High-ticket projects that cost Rs 1.5 crore or more would continue to see high-demand. The impact of rising home loan interest rates is likely to be limited, the report said.
Anshuman Magazine, Chairman and CEO - India, CBRE, said, "Retail supply this year is expected to surpass 2022 levels owing to pent-up supply addition, with several investment-grade projects launched in the past two years set to become operational in 2023. This would give a fillip to primary leasing, which is likely to be the main demand driver for retail space in 2023.”
