2018 is the best performing year for commercial office segment
According to a Knight Frank India report, 2018 is the best performing year historically for the commercial office segment with leasing crossing 46 million square feet. The residential market saw some upward movement in sales velocity, but the year stopped short of any significant recovery. Total sales of residential units were estimated to be 242,328 registering a 6% increase over full year 2017. In 2018, for the first time in this decade residential market annual launch numbers have grown year on year basis. The total new units launched in full year 2018 is estimated to be 182,207 which was higher by 75% as compared to the total units launched in 2017. 60% of all launches were within the Rs 50 Lakhs bracket as the most developers were concentrating on the affordable and mid – ranged segment. Mumbai (38,390 units), Pune (18,580 units) Bengaluru (11,830 units) saw the highest new unit launches in full year 2018. Further, most markets recorded moderate growth in prices. In Mumbai, prices