| Networking Indians & Overseas Indians | News, Business, Heritage, Culture, Tradition, Networking |



Knight Frank India launches half yearly report - India Real Estate Outlook

news

Pune (Jan. 30, 2015): Knight Frank India launched the second edition of its flagship half yearly report - India Real Estate Outlook. It presents a comprehensive analysis of the residential and office market performance of Pune for the period between July–December 2014.

Residential takeaways:-

  • Residential demand heads downhill in 2014; second half  posts better results
  • New launches plummet by a whopping 26%; developers cry caution
  • Increase in FSI could drive housing growth; realtors hope for a government nod

Office Takeaways:-

  • Never mind a 15% yoy rise, office rentals toleap another 9% in the next six months
  • Consolidation & Expansion- The new mantra for Pune’s office market
  • Realtors breathe easy as vacancy levels plunge; Ready to Move in spaces take the larger share

Speaking about the findings, Shantanu Mazumder, Director- Pune, said “Market sentiments turned positive during the year 2014. New government formation both in the Centre and the State has created a clear road map for fast track developments.  Even though the H2 2014 sales traction was marginally better than expected, residential sales volume and fresh launches dipped to 11% and 26% respectively in comparison to 2013. Despite a fall in sales volume, the weighted average prices in Pune increased moderately, by 5%.  We expect the sales volume to pick up with the recent cut in policy rate by the RBI and a further cut would usher in a double-digit growth in sales volume during H1 2015.”
“Commercial office space take-up jumped to its peak in 2014 touching the 2008 transaction levels which have brought down the vacancy levels to a historical low at around 16%. This trend was purely because of consolidation and expansion strategy adopted by the existing operators showing their immense confidence in this market. A few big-ticket deals that happened during the H2 of the year are Credit Suisse, Accenture, Allstate, Siemens, ADP, Cognizant and KPIT” he added.