ASIA PACIFIC OUTLOOK 2025

DELHI NCR

RENT GROWTH

Between 2023 –24, rents showed steady growth, scaling pre-COVID levels.

8.0%

1,200

FORECAST

With annual average supply of around 6.5 msf expected during 2025 and 2026, rentals are expected to witness marginal average growth at ~2.0%. Beyond 2025, rent growth is expected to pick up, at 1.5%–2%, due to rising occupier demand, although it is likely to remain range bound at that level owing to consistent new supply entering the market.

7.0%

1,000

6.0%

800

5.0%

4.0%

600

3.0%

400

2.0%

200

1.0%

0.0%

0

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

RENT (INR/SF/YR) AND RENT GROWTH (% PER ANNUM) INR/SQFT/YR

Rent growth (%)

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield