2024 India Market Outlook forecasts a 15% decline in Indian retail space demand by 2024, reaching 7.1 million sq ft in 2023.
Demand for Indian retail spaces may decline 15% by 2024, up from 4.8 million sq ft in 2022, reaching 7.1 million sq ft in 2023. CBRE's '2024 India Market Outlook' forecasts retail leasing between 6-6.5 million sq ft in 2024, with high-quality mall developments in tier-I cities. Home décor and fashion segments will expand, while rental growth is expected to rationalize. International luxury retailers are entering India through local partnerships.
April 10, 2024
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