Delhi-NCR, Mumbai, Bengaluru Amongst Prime 10 Asia-Pacific Markets For Rental Development | Actual Property Information
New Delhi: Delhi-NCR, Mumbai and Bengaluru had been among the many high 10 logistics markets for development within the Asia-Pacific area within the second half of 2024, greater than the regional common, in keeping with a report on Saturday.
The Asia-Pacific (APAC) logistics market noticed marginal rental development of 0.2 per cent in year-on-year (YoY) phrases however Delhi-NCR at 2.8 per cent, Mumbai at 2.3 per cent and Bengaluru at 1.5 per cent recorded rental development greater than regional common (year-on-year), in keeping with Knight Frank’s ‘Asia-Pacific Logistics Spotlight H2 2024’ report.
Delhi-NCR is positioned sixth within the APAC logistics market primarily based on annual rental development. At Rs 21.07 per sq. ft per 30 days, town’s rents grew at 2.8 per cent YoY. The emptiness degree available in the market now stands at 14.5 per cent, in keeping with the report.
Mumbai is on the seventh place within the APAC logistics market when it comes to annual rental development. With a YoY development of two.3 per cent, town’s rents now stand at Rs 23.94 per sq ft per 30 days. The emptiness degree grew to 11.8 per cent in H2 2024.
Bengaluru noticed at tenth rank within the APAC logistics market primarily based on annual rental development in H2 2024. Rents within the metropolis grew at 1.5 per cent YoY to Rs 22.13 per sq ft per 30 days and emptiness degree stood at 18.9 per cent.
“The wholesome GDP development forecast is predicted to keep up a dynamic enterprise surroundings and help occupier exercise all through 2025. With 2 million sqm changing into accessible in 2025, the anticipated demand is predicted to be sufficiently met,” mentioned Shishir Baijal, Chairman and Managing Director, Knight Frank India.
The federal government’s deal with the manufacturing sector is proving profitable, leading to wholesome demand from this sector. The sturdy enterprise surroundings, diversified warehousing demand, and rising institutional curiosity are possible to assist the market maintain its momentum within the close to to medium time period, Baijal added.
