Page 4 - Knight Frank

Realty estate index dips marginally in Jan-Mar but still positive: Report

The sentiment index for the real estate sector dropped marginally in the January-March period but remained positive, according to Knight Frank India and NAREDCO. In its 36th edition of Real Estate Sentiment Index Q1 2023 (January-March), real estate consultant Knight Frank and industry body NAREDCO said that the current sentiment score, while safely within the optimistic zone, has seen a marginal dip from 59 in December 2022 quarter to 57 in Q1 2023. This is mainly on account of stakeholder perception of the global recessionary environment and the risk of a future global downturn still exists, it said. The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions. The 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 has increased from 58 in Q4 2022 to 61 in Q1 2023 on account of the resilie

Macroeconomic factors, better consumer confidence push industry optimism up

However, most Indians now expect residential prices to increase in the next six months

Ultra-rich Indians are now parking more money in gold: Knight Frank survey

The rise in allocation in gold is mainly owed to the significant returns it has given in the past few years

Knight Frank appoints India head Shishir Baijal on group executive board

Real estate consultant Knight Frank has appointed its India head Shishir Baijal on its group executive board. In a statement on Wednesday, the consultant said it has appointed "Shishir Baijal to its Group Executive Board responsible for the UK and global Knight Frank business". Baijal joins the board to add international experience and wide-ranging corporate acumen after his 45-year-plus career across various sectors, including hotels, leisure and real estate. He joined Knight Frank in 2012, building the team in India to 1,500 professionals in eight cities, servicing over 100 locations in the subcontinent. "Our regions are at varied stages of development, and a truly comprehensive view for the company is imperative, given the new era of post-pandemic global business. I view joining the group executive board as an enriching move to create a more global orientation to our overall approach," Baijal said. The group executive board oversees Knight Frank's global network and over-archi

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