Outlook 2023 India

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

FORECAST

3.0%

580

 Rental growth is forecast at 2.4% for 2022 and will remain around 2.5% until 2024.  The rental growth is mainly driven by new supply with better amenities and the tenant preference for such quality spaces.  Sustained rental growth (~2.0%) is expected even beyond 2024 with rentals estimated at INR 543/sft/yr by end 2024.

560

2.5%

540

2.0%

520

1.5%

500

1.0%

480

0.5%

460

440

0.0%

2020

2021

2022F 2023F 2024F 2025F 2026F

Rent (INR/SQFT/YR)

Rent growth (%)

Source: Cushman & Wakefield