Strong recovery witnessed across real estate in Q3 2021;Residential at the forefront of revival

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CBRE South Asia Pvt. Ltd., India’s leading real estate consulting firm, today announced the findings of its ‘India Market Monitor – Q3 2021’. The report discusses the growth, trends, and dynamics across various segments in the real estate sector in India.

According to the report, housing sales jumped nearly46%Q-o-Q to 50,000 unitsin Q32021 and sales rebounded significantly by approximately 86% y-o-yon a YTD basis. Office leasing activity reached13.5 million sq.ft. in Q3 2021 growing at about 140% Q-o-Q,with the YTD number reaching 25 million sq. ft. for the key cities.With 3PL and E-commerce fuelling demand, the Industrial & Logistics leasing activity crossed 9 million sq.ft. in Q3 2021, growing at about 6% Q-o-Q and touching23 million sq. ft. for 9 months2021.

Mr.Anshuman Magazine, Chairman & CEO, India, South East Asia, Middle East & Africa, CBRE,said,“India’s real estate market has proven to be extremely resilient over the last year. The overall outlook for the Indian real estate continues to be positive – back ofan accelerated vaccination drive, policy reforms, and increasing urbanization. Mr. Abhinav Joshi, Head of Research- India, Middle East & North Africa, CBRE said, “With ease of restrictions post-COVID’s second wave, the real estate industry has witnessed steady growth. The green shoots of recovery have been observed across sectors – including office, residential, retail, and industry &logistics, which is likely to sustain momentum for next few months.

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