Realty attracts US $ 943 million in 2022 first quarter

The realty sector which has seen upheavals during the Covid-19 period is recovering to attain the past glory as attracting US dollar 943 million investments in first quarter of current year 2022 was any indication. The majority of investment flow is in the office space segment, JLL India said in a report.

The investments have risen 41 per cent on a sequential basis. However, on a year-on-year basis investments have declined by 25 per cent in the first quarter. Last year, 16 agreements were reached in the first quarter as against only 10 this year. However, the year started with renewed vigour as large deals that were on hold are being actively negotiated and are likely to be concluded in the next few quarters. Overseas investors mainly focussed attention on commercial properties. The demand for office space has increased with the increase of leasing activities. The retail sector also looks optimistic, says JLL Capital Markets Managing Director Lata Pillai.

Of the total transactions, transactions worth US $ 492 million pertain to the office space, constituting 52 per cent of the total deals transacted in the quarter. The share of the retail segments is put at 27 per cent. Mumbai occupied 42 percent of the total transactions, with Bengaluru closely following with 39 per cent of the deals. Chennai occupied third position with 14 per cent.