DTZ: Vacancy rate at 20.7% in Mumbai retail market
DTZ noted in its Property Times report for Mumbai in 1Q15 that the retail vacancy rate remains high at 20.7%, even though there has been no new supply in the last seven quarters. This is largely due to the underperformance of seven malls which have not been able to retain tenants and which account for around 70% of total vacancy in the city. Rents have remained stable. DTZ thinks that high street rents may fall over the coming months because the current high levels are limiting demand.
Source : 30 April 2015/DTZ/Mumbai/OFF