1 / 8

Pandemic-hit year record the “Highest Rental Transactions in a Decade”

Our research team puts together some interesting facts on the Mumbai Residential rental market for the Year 2021 as well as the outlook for 2022.<br><br>Make sure you follow Simplease for more exciting content on Real Estate.<br><br>Visit www.simplease.in or call us at 91 84 48 802 803 for any real estate requirement.<br>Our team of Neighborhood experts will guide you in choosing the right property for you.

Simplease
Télécharger la présentation

Pandemic-hit year record the “Highest Rental Transactions in a Decade”

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 2021 THE YEAR WHEN UNCERTAINTY BECAME THE CERTAINTY www.simplease.in

  2. A quick recap of the Mumbai Residential Rental market in 2021 The year 2021 was a very unique year for the Mumbai Residential Rental market. If one viewed the year 2021 as a whole, the overall rental transactions have grown phenomenally and are 4% higher than the rental transactions in the pre-covid levels of 2019.

  3. However, the monthly data would reveal significant fluctuations driven by the spike in Covid outbreak. This pattern is reflective of the fact that intermittent disruptions due to Covid have been accepted as a given and individuals / organisations are now taking real estate decisions discounting any restrictions / lockdowns that may be imposed.

  4. Key highlights [A] HIGHEST RENTAL TRANSACTIONS IN A DECADE The rental transactions in 2021 were the highest since 2012. The total rental transactions were at 259,941 which were 40% higher than 2020 when the market was severely impacted by Covid for the first time. These are higher by 4% compared to the pre- covid levels of 2019. Leave & License Agreements in Mumbai 300,000 200,000 100,000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021

  5. [B] HIGH TRANSACTIONS INDICATIVE OF OPENING UP OF HOUSES We believe that the surge in transactions is reflective of organizations reducing their preference for “Work from Home” and asking the employees to rejoin offices.

  6. [C] RAPID SHIFT TOWARDS DIGITIZATION While e-registrations had picked up in the last few years, the switch has become predominant with the outbreak of Covid. The e-registrations now constitute 88% of the overall rental transactions. % OF LEAVE & LICENSE REGISTRATIONS 100% OFFLINE REGISTRATIONS 75% E-REGISTRATIONS 50% 25% 0% 2013 2014 2015 2016 2017 2018 2019 2020 2021

  7. What to expect in 2022? We believe that the year 2022 will not be much different from 2021. While we are already seeing a surge in the spread of the Omicron variant which could stifle activity in the near months, we expect the demand to remain strong nonetheless. We also do not rule out future intermittent restrictions going forward as well. We are optimistic on the demand based on our conversations with several organizations with respect to opening up of their offices. This activity had already started in November 2021 which is reflected in the exceedingly strong numbers in December 2021. Given the recent spike in COVID cases, we expect the organizationS to delay the plans by a month or so. However, we are confident that we will see a larger proportion of work force resuming offices soon. We are also enthused by the record fund-raising in the start- up ecosystem which will give further boost to hiring and consequently relocations.

  8. Liked our content? Follow simplease.in Drop a like for more insights like these

More Related