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The post-pandemic industrial scenario for India’s commercial real estate shows a few interesting developments ahead in 2023. Since the residential space is still in the recovery phase, commercial real estate is expected to take some time to pick up pace. However, there will be a transitional shift in terms of how commercial properties will be utilized, valued, and transacted in 2023 and in the coming years.
Commercial Real Estate Outlook in 2023:
According to an independent report, the outlook for Indian commercial real estate indicates that Grade-A office spaces are already generating higher returns, which explains their demand in the market. The expected returns on the residential real estate space are around 3-4%, whereas those on commercial properties are approximately 8-10%. The Indian real estate sector had a profitable season in Q2 of 2022, with steady annual and quarterly growth in leasing activity for most segments.
The data shows how the commercial real estate trends are poised to change and why people find investing in such properties to be a golden opportunity. It’s pretty evident that it is a lucrative way of earning high returns compared to other forms of investments.
If you wish to buy commercial property in Mumbai, you need to read about these new developments in commercial real estate in detail and make the right decision.
Runwal Commerz at Runwal City Centre, Kanjurmarg, is the one place you must consider and explore. It offers an integrated lifestyle environment where people can live, learn, work, and play! The project is spread across a 36-acre mega-campus that serves all its residents’ needs.
Considering this rise in Mumbai’s commercial real estate, this would be the right time to invest in office spaces or shops in the thriving location of Kanjurmarg East.
You can bank on these current commercial real estate trends that will help you make an informed decision:
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Incentives & Discounts:
Many developers in India offer lucrative discounts on commercial properties to attract residential and NRI customers. This trend will continue with better and innovative offers that nudge the prospects towards investing.
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Rise in the Number of Upcoming Locations
Even with the continuously changing market environment, commercial real estate demand has remained consistently growing. In 2023, as a greater number of upcoming locations are springing up, the commercial inventory is expected to increase exponentially as well.
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High Returns & Rate of Appreciation:
Commercial properties in prime locations will see better appreciation and higher ROI. Commercial real estate in India has always shown a potential for growth in terms of selling, renting, or leasing.
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Increased NRI Investment:
The commercial properties in India have a good growth prospectus, and that is why it has been observed that NRIs are investing in Mumbai’s commercial real estate as the market has grown multifold. The trend will continue for years to come.
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Secured Investment Option:
Investing in commercial real estate in India is considered as one of the most secured options because of its high returns and low risk. People prefer to invest in something that has the capacity to yield higher returns at a faster pace. Commercial properties are easier to place on rent or lease if they are in a prime location.
Concluding Thoughts:
With the knowledge about the above-mentioned commercial real estate trends in 2023, you can equip yourself with information that will change your outlook on the prospect of owning a commercial property. Stay ahead of the curve with the right kind of investment with Runwal Commerz in Kanjurmarg – Mumbai’s new city centre!
