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Residential launches make a comeback, prices lower but sales stagnant: Knight Frank India


By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Knight Frank India today launched the ninth edition of its flagship half yearly report - India Real Estate. It presents a comprehensive analysis of the residential and office market performance of MMR for the periodJanuary – June 2018 (H1 2018).

Office Takeaways:

  • ·         New office space supply lowers by 42% YoY
  • ·         Vacancy levels see a marginal rise to 21.5%
  • ·         Lack of quality office space in desired business districts limits transactions, transaction lower by 7% YoY
  • ·         Greater share of transactions in lower rental peripheral and suburban office markets pull down weighted average transacted rentals by 8% YoY
  • Co-working comprises 30% of transactions by ‘Other Services’ sector


Residential Takeaways:

  • ·         Launches grow 128% YoY in H1 2018 on a low base of H1 2017 due to dumping ground reprieve in BMC region and mega project launches in peripheral suburbs
  • ·         Mumbai city (BMC region) witnesses highest growth in supply post dumping ground reprieve
  • ·         Average size of units in MMR shrink by 12% between 2013 and 2018
  • ·         9% YoY decline in weighted average prices across MMR, with prices declining across markets
  • ·         In addition to reduction in prices, developers are offering bouquet of sops including 24-month rent assurance, stamp duty waivers and no floor rise charges among others
  • ·         Residential sales stagnant recording a marginal 1% YoY growth over H1 2017
  • ·         Unsold inventory lower by 14% YoY. QTS declines from 8.8 in H1 2017 to 8.0 in H1 2018 as launches have constantly lagged sales from H2 2014 till H2 2017



Dr. Samantak Das, Chief Economist & National Director – Research said, “In the backdrop of H1 2017 – a period of RERA and GST implementation, Mumbai residential market witnessed 128% YoY growth in launches in H1 2018. This was primarily driven by dumping ground reprieve in Mumbai city and also mega project launches in peripheral suburbs. Most developers focused on reducing apartment sizes of their new launches. Accordingly, we have seen shrinkage of 12% in apartment sizes across MMR, with some premium markets witnessing reduction of as high as 31%. Further, besides the nominal price drop across markets, developers are also offering a host of other incentives to entice buyers. Read more



By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The Body Shop, the iconic global beauty brand, announces reduction of prices of select bestselling products in skincare & fragrance category. Extending last year’s strategy of accessible beauty and to penetrate deeper in the market, the brand is lowering prices in three more categories and four key products this year, namely Vitamin C Daily Glow Cleansing Polish, Vitamin C Glow Boosting Moisturiser, Body Butters and Deodorants. Read more