Q3 2024 Retail Report: Main Streets Lead Leasing, Mall Vacancies Drop

 

Introduction

Main Streets Dominate Q3 Retail Leasing

In a notable rise for India's retail sector, Cushman & Wakefield’s Q3-2024 Retail MarketBeat Report reveals that leasing activity hit 1.6 million square feet across the top eight cities, with main streets emerging as the prime focus. Hyderabad, Delhi NCR, and Chennai led this activity, representing 70 per cent of main street leasing volumes. Main streets accounted for 68 per cent of the total retail leasing volume, while key cities like Delhi NCR, Bengaluru, and Kolkata saw rental growth rates reaching up to 15 per cent year-over-year, indicating high demand.


Rental Growth Driven by Strong Main Street Demand

Main street rentals surged across several cities. Delhi NCR saw the highest year-over-year rental increase at 13-15 per cent, followed by Bengaluru and Chennai at 12-14 per cent. Kolkata and Ahmedabad also saw notable rental growth, driven by sustained demand for retail space on main streets.............Read More

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