Page 2 - Knight Frank

Housing sales up 11% in Jan-Jun to hit 10-yr peak in 8 cities: Knight Frank

Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank. On an annual basis, housing sales rose 11 per cent to 1,73,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities. Shishir Baijal, Chairman and Managing Director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions." As a result, the residential and office segments have recorded decadal-high numbers, he told reporters in a virtual press conference on Thursday. He noted that premium housing formed 34 per cent of all sales in the first half of 2024. "Concurrently, India's status as one of the fastest-growing large economies has positively

Mumbai clocks 12% growth in property registrations in June: Knight Frank

The registration of properties in the Mumbai municipal region rose 12 per cent annually in June to 11,575 units on better demand for housing assets, according to Knight Frank. Mumbai city (area under Bombay Municipal Corporation jurisdiction) saw registration of 11,575 units in June against 10,319 units in the same month last year, as per the data compiled by real estate consultant Knight Frank from the Maharashtra government portal. However, the number of registrations in June was lower than in May, when 12,000 units were registered. The bulk of the registration is for housing properties. Strong buyer confidence has kept property registrations in Mumbai above the 10,000 mark for the first six months of the 2024 calendar year. In June 2024, Mumbai experienced the highest number of property registrations for any June month in the past 12 years, the consultant said. Knight Frank attributed this surge to rising economic prosperity and a favourable sentiment towards homeownership. K

Mumbai city sees 12,000 property registrations in May, up 22% annually: Rpt

Registration of properties in Mumbai municipal region increased 22 per cent during May to 12,000 units driven by strong housing demand, according to real estate consultant Knight Frank. Citing Maharashtra government data, Knight Frank India said Mumbai city (area under BMC jurisdiction) recorded around 12,000 property registrations last month as against 9,823 units in May last year. State exchequer garnered Rs 1,034 crore in May 2024, up 24 per cent from the same month last year. Of the overall registered properties in May 2024, residential units constituted 80 per cent. "The continuous year-on-year growth in property sales and registrations provides a continuum to the growth story that propelled on the back of state government incentive and since then, despite a rise in average prices across the city, sales and registrations of properties have maintained the momentum," Shishir Baijal, Chairman & Managing Director, Knight Frank India, said. This reflects the appetite of the ...

Election impact on demand anticipated to be moderate: Shishir Baijal

As global uncertainties gradually abate, the robust Indian economy and favourable real estate fundamentals are anticipated to bolster private equity inflows into the sector

Optimism in real estate industry stakeholders highest in 10 years: Report

As many as 82% of the respondents expect residential prices to rise in the near future

'Ghost' shopping centres expand 59% in 2023, largest rise in NCR: Report

Almost Rs 6,700 cr 'trapped' in gross leasable space of such shopping centres, it says

Retail real estate in growth mode as consumption, incomes rise: Study

India's real estate sector is set to reach $1.5 trillion by 2034, accounting for 10.5 per cent of the economy, says the report

Indian real estate to be worth $1.5 trn by 2034 as demand soars: Report

GDP could reach $10.3 trn in 10 years, creating demand for offices and housing for all economic sections

Homes priced above Rs 1 cr corner highest share ever in total sales: Report

Those priced below Rs 50 lakh record dip in sales in January-March quarter: Knight Frank

Corporate real estate sentiment highest since April-June 2022: Report

Number of corporate real estate deals likely to increase in quarters ahead, it indicates

Knight Frank India hires Harry Rogers as director of global capital markets

On the new addition to the firm, Knight Frank's Chairman Shishir Baijal highlighted the significance of Rogers' appointment at a time when India's real estate market landscape is thriving

India to see highest rise in number of ultra-rich in 5 years: Knight Frank

Knight Frank's 'The Wealth Report' says Asia will dominate the rise in the number of ultra-rich

Realty sentiment index moves upward as financial institutes remain bullish

Real estate developers and financial institutions are bullish on their outlook for the property market for the next six months and expect the high demand to sustain its momentum, according to a Knight Frank and NAREDCO report. Real estate consultant Knight Frank and realtors' body Naredco on Sunday released their 39th edition of Real Estate Sentiment Index for Q4 2023 (October-December 2023). As per the report, the current sentiment index score remained in the optimistic zone, rising to 69 from 59 in the third quarter of 2023 calendar year. The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions. A score of above 50 indicates 'optimism' in sentiments, a score of 50 means the sentiment is 'same' or 'neutral'. The score below 50 indicates 'pessimism'. The future sentiment score, which indicates stakeholders' outlook, has also increased from 65 in Q3 2023 to 70 in Q4 2023, driven by general optimism about the Indian

Hyderabad sees 1% fall in registrations of housing properties: Knight Frank

The Hyderabad region has witnessed a 1 per cent annual fall in registrations of residential properties in January to 5,411 units, according to Knight Frank. As many as 5,454 housing units were registered in January 2023 across the Hyderabad residential market, which includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. The data covers transactions of both primary (first sale) and secondary (resale) markets. As per the data compiled by real estate consultant Knight Frank India, the total value of properties registered during January stood at Rs 3,279 crore, which is 24 per cent higher year-on-year, indicating a movement towards sale of higher value homes. In January 2024, 47 per cent housing properties registrations were in the price range of Rs 25-50 lakhs. Properties priced below Rs 25 lakh constituted 15 per cent of the total registration numbers. The consultant highlighted that the share of sales registrations for properties costing Rs 1 cror

Mumbai, Bengaluru in top 10 cities with highest home price rise in APAC

In the region, Singapore saw the highest price rise followed by Perth and Brisbane

Real estate sector in the middle of a growth cycle: Motilal Oswal

Despite the price hikes, affordability improved across markets as income growth surpassed pricing growth, which should keep momentum intact in demand and pricing, the report stated

Realty reality: Will luxury housing in India lose its sheen in 2024?

Luxury housing in India witnessed a record-breaking year in 2023 as the sales of such homes touched an all-time high. Now, is the demand for these costlier homes likely to continue in 2024 as well?

Share of GCCs in office transactions rose to 35% in 2023: Knight Frank

Chennai witnessed the highest GCC focussed transactions at 6 msf, followed by Hyderabad at 4.1 msf and Bengaluru at 3.8 msf

Kolkata's real estate market shows robust growth in 2023: Knight Frank

Kolkata's real estate market witnessed unprecedented growth in both the residential and office segments last year, a real estate report said on Wednesday. The city experienced a stellar year in office leasing transactions, with a staggering 1.4 million sq ft of office spaces transacted in 2023, marking a healthy 20 per cent growth year-on-year (YoY), Knight Frank India's Residential and Office Market Report (H2 2023) stated. This is also a 9-year high in office leasing transactions. The report also notes phenomenal growth recorded in new office completions, reaching a remarkable 0.8 million sq ft in 2023, a staggering 332 per cent jump YoY, making it the highest volume recorded in the past five years. The surge was fueled by robust occupier interest across various sectors, indicating a positive economic outlook, "The commercial market in Kolkata is now witnessing a consistent rise in transactions exceeding half a million with significant engagement from India-facing business as ...

Mumbai property registration up 4% to record 126,907 units in 2023: Report

Property registration in the Mumbai municipal area increased 4 per cent year-on-year to an all-time high of 1,26,907 units in 2023 on the back of better demand, according to Knight Frank. The registration number hit a record in 2023, beating the previous high of 1,22,035 units in the previous year, real estate consultant Knight Frank India data showed. The state government collected a revenue of Rs 10,869 crore as stamp duty in 2023, up 22 per cent from the previous year. In December, 12,255 units were registered in Mumbai city (an area under BMC jurisdiction), up 31 per cent from 9,367 units in the year-ago period. Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in primary (fresh) and secondary (re-sale) markets. Of the overall registered properties, residential units constitute 80 per cent. Knight Frank CMD Shishir Baijal said the demand has been driven by risin