Archive · 10 Jan 2026
Mumbai Leads Housing Market in 2025
Mumbai was the top housing market in India in 2025.
Office leasing was high, with Global Capability Centres (GCCs) taking up a lot of space.
Home sales went up a little, and prices increased by 7%.
People are buying more expensive homes, not affordable ones.
The office market is stable, with good demand and steady rents.
Mumbai recorded 9.8 million sq ft of office leasing in 2025, despite a 5% YoY decline, making it the second-strongest year in over a decade.
GCCs' share of office leasing rose sharply from 9% in H2 2024 to 27% in H2 2025, driven by BFSI, technology, and engineering firms.
Average office rents increased by 6% YoY to ₹125 per sq ft per month, supported by quality-driven demand and limited new supply.
Residential home sales in Mumbai increased by 1% YoY to 97,188 units, with H2 2025 sales rising 3% to 50,153 units.
Average residential prices climbed 7% annually to ₹8,856 per sq ft, reflecting steady end-user demand and controlled supply.
- Who
- Knight Frank India
- What
- Mumbai's office and residential real estate market performance in 2025
- When
- July-December 2025 (H2 2025)
- Where
- Mumbai, India
- Why
- To analyze market trends and demand drivers
- Office Leasing Volume
- 9.8 million sq ft (5% YoY decline)
- Office Leasing in H2 2025
- 4.3 million sq ft
- GCCs Share of Office Leasing
- 27% in H2 2025 (up from 9% in H2 2024)
- India-facing Occupiers Share
- 40% (down from 72% YoY)
- Third-party IT and ITeS Firms Share
- 20%
- Average Office Rent
- ₹125 per sq ft per month (6% YoY increase)
- Office Vacancy Rate
- 18.3%
- Residential Home Sales
- 97,188 units (1% YoY increase)
- H2 2025 Residential Sales
- 50,153 units (3% increase)
- Average Residential Price
- ₹8,856 per sq ft (7% YoY increase)
Sources
Pune residential market at delicate inflection point: Gera Realty Report
Pune Flat Sees Rs 20 Lakh Jump In Weeks; Stunned Buyer Shares Experience
Mumbai tops housing market in 2025; average residential prices climb 7%: Knight Frank
Hyderabad’s unsold housing inventory not a concern, says Credai prez elect
Office leasing hits record 20% growth in 2025, residential sales steady
Office leasing in India rises to record high of 86.4 mn sq ft in 2025, Bengaluru leads: Knight Frank
