residential sales Mumbai Archives - Square Feat India https://squarefeatindia.com/tag/residential-sales-mumbai/ Real Estate News Website Thu, 03 Jul 2025 09:15:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://squarefeatindia.com/wp-content/uploads/2019/12/squrefeatindia_favicon.png residential sales Mumbai Archives - Square Feat India https://squarefeatindia.com/tag/residential-sales-mumbai/ 32 32 Mumbai’s Residential Market Holds Steady While Office Rentals See Double-Digit Growth in H1 2025 https://squarefeatindia.com/mumbais-residential-market-holds-steady-while-office-rentals-see-double-digit-growth-in-h1-2025/ Thu, 03 Jul 2025 09:15:19 +0000 https://squarefeatindia.com/?p=9464 Mumbai’s property market in the first half of 2025 showcased resilience, with office rents jumping 12% year-on-year despite a modest drop in leasing volumes. Residential sales stayed strong at over 47,000 units, supported by infrastructure growth and rising buyer preference for larger homes.

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]]> Mumbai’s real estate market remained resilient in the first half of 2025, with office rentals rising sharply even as leasing volumes moderated. Residential sales maintained record-high levels, demonstrating strong end-user demand and infrastructure-led growth momentum.

According to a report by Knight Frank, covering January–June 2025, the city recorded the second-highest half-yearly office leasing performance despite a 5% year-on-year (YoY) decline in transaction volumes.

🏢 Office Market Highlights

Key Trends:

  • Office Rents: Increased by 12% YoY—the highest growth among India’s top markets.
  • Leasing Volumes: Declined marginally to 5.5 million sq. ft., compared to 5.8 million sq. ft. a year ago.
  • New Completions: Fell by 48% YoY, driving vacancies down to the lowest level since 2014.

📊 Office Market Summary

ParameterH1 2024H1 2025YoY Change
Completions (mn sq. ft.)5.82.2-48%
Transactions (mn sq. ft.)5.85.5-5%
Average Transacted Rent (INR/sq.ft./month)118129.4+12%

Source: Knight Frank Research

Flex spaces emerged as the dominant occupier segment, accounting for 39% of transactions, up from 10% a year earlier. The share of Global Capability Centres (GCCs) more than doubled to 11%, while India-focused businesses saw their share decline to 48%, reflecting a more diversified demand base.

🏙 Business Districts and Leasing Dynamics

Notable Trends:

  • SBD West and Peripheral Business Districts contributed over 60% of gross leasing.
  • Bandra Kurla Complex (BKC) & Off-BKC saw demand rebound from 6% to 16% share YoY.
  • Infrastructure improvements, including Mumbai Metro Line 3, boosted connectivity and occupier confidence.

🏢 Vacancy and Stock Overview

MetricH1 2025YoY Change
Stock (mn sq. ft.)169.4+2.3%
Vacancy (%)17.4%-230 basis points YoY

Gulam Zia, Senior Executive Director at Knight Frank India, commented:

“Mumbai’s office market continues to evolve with greater emphasis on flexibility and ESG-compliant buildings. While leasing volumes moderated, the sharp rent increase and falling vacancies suggest healthy underlying demand for premium office space.”

🏠 Residential Market Highlights

Mumbai’s residential sector remained steady, with 47,035 units sold in H1 2025—nearly unchanged from H1 2024, marking the second-highest half-yearly sales volume since 2012.

Average prices rose by 8% YoY to INR 8,532 per sq. ft., driven by higher ticket-size homes and better specifications.

📊 Residential Market Summary

ParameterH1 2024H1 2025YoY Change
Launches (units)46,88045,451-3%
Sales (units)47,25247,035-0.5%
Average Price (INR/sq.ft.)8,2778,532+8%

Source: Knight Frank Research

💰 Ticket-Size Segment Performance

Ticket Size Segment (INR)Unsold Inventory (Units)YoY ChangeQuarters to Sell (QTS)
0 – 5 mn74,447-6%7.4
5 – 10 mn36,255-3%6.2
10 – 20 mn37,693+4%8.1
20 – 50 mn10,835+39%4.4
50 – 100 mn2,647-3%5.8

Source: Knight Frank Research

Peripheral locations such as Navi Mumbai, Kalyan-Dombivli, and Virar continued to drive launches and sales, supported by major infrastructure upgrades like the Navi Mumbai Airport and Atal Setu (MTHL).

Gulam Zia added:

“Mumbai’s residential market is stabilising at a high-performance level. Consistent traction in the INR 10 million-plus segment reflects a strong end-user base with evolved preferences.”

Also Read: Commercial Real Estate Market in Mumbai

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