The retail sector leasing in India increased by about 166 per cent Y-o-Y crossing 1.5 million sq. ft., which shows a robust recovery in the sector.
Delhi-NCR and Pune, followed by Bengaluru and Hyderabad, led the leasing activity, together accounting for more than 70 per cent of the overall retail space take-up.
It is to be noted that the fashion and apparel retailers continued to drive the leasing activity with a share of 32 per cent in H1 ’22.
The report by CBRE South Asia Pvt. Ltd. also observed that due to strong demand from retailers, rental values increased on a half-yearly basis in select micro-markets across most cities.
Amongst high streets, rents rose by about 5-12 per cent across select locations in Delhi-NCR, Bengaluru, Hyderabad and Pune, and about 1-3 per cent in Mumbai.
“It is evident that retailers have regained confidence and are set for expansion mode. We anticipate that going forward, domestic brands will remain proactive in relocations/expansions, and a strong appetite from international retailers will continue,” said Anshuman Magazine, Chairman & CEO – India, South-East Asia, Middle East & Africa, CBRE.
CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm (based on 2021 revenue).
