India Real Estate: H1 2020 (Chennai – Residential and Commercial Real Estate updates) by Knight Frank India
Chennai’s office space absorption declines 28% YoY due to COVID -19 pandemic: Knight Frank India While new completions record an unprecedented 1064% YoY growth despite the crisis Residential sales plunge by 67% YoY, launches decline by 55% YoY in H1 2020: Knight Frank India Weighted average prices decline by a further 5% YoY in H1 2020 Chennai, July 16, 2020: Knight Frank India today launched the 13 th edition of its flagship half-yearly report - India Real Estate: H1 2020 - which presents a comprehensive analysis of the office and residential market performance across eight major cities for the January-June 2020 (H1 2020) period. The report highlights that the new office space completions in Chennai saw an outstanding and unprecedented growth of 1064% YoY to 0.3 mnsq m ( 3.3 mn sq ft) in H1 2020. This remarkable jump is attributed to the entry of one large commercial space in the market in Q1 2020...