Topic
real estate
Logistics Housing Market Crash Slams Last-Mile Delivery: Growth Halved, Consolidation Looms
The big-and-bulky last-mile delivery segment is seeing growth halved to roughly 5% annually through 2027, driven by a stalled housing market with 6-7% mortgage rates. A joint report from Armstrong & Associates and the National Home Delivery Association highlights intensifying competition, the need for AI-driven execution, and looming consolidation. Labor availability is also tightening due to CDL enforcement.
Logistics Tenants signing longer leases for larger warehouses as 3PLs lock in capacity
Leases on U.S. industrial properties with at least one million square feet more than doubled to 38 in the first half of 2026, up from 16 a year earlier. The top-100 leases totaled 93.6 million square feet, a 26% year-over-year increase, as occupiers made longer-term commitments, with average lease terms rising five months to 89 months. Third-party logistics providers held the majority of the largest leases but saw their share decline.
Finance UK Mortgage Rates Rise to Highest Level in a Month as Global Tensions Persist
Average UK mortgage rates have risen to levels last seen a month ago, with the two-year fixed deal averaging 5.58%, as renewed Middle East tensions push up lenders' funding costs and oil prices to $100/barrel, reducing expectations of central bank rate cuts. Over five million homeowners are projected to see higher monthly repayments by end of 2028, according to the Bank of England.
Logistics Weak housing market halves growth in big and bulky last-mile delivery sector
Growth in last-mile delivery for big and bulky items has slowed to 5.1% CAGR from 10.6% due to a stagnant housing market, according to Armstrong & Associates and the National Home Delivery Association. Housing turnover hit a 30-year low last year, dampening demand for furniture and appliances. Carriers face profit compression with revenue per shipment often below $90, while high-touch services command up to $250.
Business Segro Board Unanimously Backs Prologis' Increased $18.7 Billion Takeover Bid
Segro's board agreed to back Prologis' increased £14 billion ($18.7 billion) takeover bid, with a 9.5% increase over the initial offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel extended the deadline to August 12. The deal highlights growing consolidation in logistics real estate.
Business Sobha Q1 Net Profit Surges Nearly 250% to ₹51 Crore on Strong New Launches
Sobha Limited posted a 274% jump in Q1 FY27 net profit to ₹51 crore, with revenue rising 48% to ₹1,330 crore. The company achieved its highest-ever quarterly sales of ₹3,656 crore, driven by new project launches in Bangalore and Gurgaon.
Business Segro Rejects Enhanced $18.2B Prologis Takeover Bid, Third Offer Rebuffed
Segro has rejected Prologis' third and enhanced takeover bid valued at £13.5 billion ($18.2 billion), representing a 6% increase over the initial all-stock proposal. The offer includes a 20% cash component and a 41% premium to Segro's three-month weighted average share price. Segro called the bid opportunistically timed, while Prologis argued its proposal provides superior value and access to a larger logistics network.
Business Aurum Proptech Q1 Net Profit Surges to ₹45 Crore on Sale of Navi Mumbai Buildings
Aurum PropTech Ltd reported a consolidated net profit of ₹45.18 crore for the June quarter, reversing a year-ago loss, mainly due to gains from the sale of two commercial buildings in Navi Mumbai. Total income rose to ₹119.01 crore, and the company announced the acquisition of Housing.com for ₹458 crore.
Business Oberoi Realty Q1 Profit Surges 29% to ₹544.71 Crore on Strong Revenue Growth
Oberoi Realty posted a 29.3% year-on-year increase in consolidated net profit for the first quarter of FY27 to ₹544.71 crore, driven by 26.7% revenue growth. EBITDA rose 31% to ₹794.94 crore, with chairman Vikas Oberoi citing steady performance across residential, commercial, retail, and hospitality segments.
Business Kolte-Patil Developers Q1 Sales Flat at ₹617 Crore, Realisation Jumps 29%
Kolte-Patil Developers reported flat sales bookings of ₹617 crore in Q1FY27, unchanged from ₹616 crore a year ago. However, average sales realisation surged 29% to ₹9,442 per sq ft, driven by price revisions and a higher share of Mumbai projects. Collections increased 30% to ₹715 crore, indicating strong execution momentum.
Business Oberoi Realty Q1 Profit Rises 29% to ₹543.51 Crore, Total Income Up 27%
Oberoi Realty reported a 29% year-on-year increase in consolidated net profit to ₹543.51 crore for the June quarter, driven by higher total income which rose 27% to ₹1,361.69 crore. The Mumbai-based developer, one of India's leading real estate firms, disclosed the results in a regulatory filing on July 17, 2026.
Logistics Prologis Sees Record Leasing Demand for Logistics Warehouses, Raises Full-Year Outlook
Prologis reported a strong second quarter with record lease signings of 67 million square feet and revenue of $2.43 billion, beating estimates. The company raised its full-year core FFO outlook to $6.22-$6.30 per share, driven by robust demand for logistics warehouses. U.S. net absorption hit 66 million square feet, the highest since 2022, and Prologis expects rent growth to outpace inflation in tight markets like Texas, the Southeast, the Midwest and the San Francisco Bay Area.
Logistics Prologis Raises Earnings Outlook After Record Lease Signings in Q2
Prologis (NYSE: PLD) reported Q2 revenue of $2.43B (up 11% y/y) and core FFO of $1.63 per share, both beating estimates. The company achieved record lease signings of 67M square feet and raised its full-year core FFO guidance to $6.22-$6.30 per share, signaling strong demand for logistics warehouse space.
Business Accenture leases over 10 lakh sq ft in Hyderabad in ₹1,000 crore office deal
Accenture Solutions Pvt Ltd has leased over 10 lakh sq ft of office space at Aparna Technopolis in Hyderabad, committing more than ₹1,000 crore in total rent over the lease term. The deal, one of the largest commercial office transactions this year, underscores sustained demand from global capability centres for premium office space in Hyderabad.
Business Despite West Asia War, Real Estate Likely to See 10% Growth This Fiscal, Says CREDAI President
Shekhar G Patel, President of CREDAI National, stated that Indian real estate could see 10% growth this fiscal despite the West Asia war and potential price increases. Construction costs have surged 15-25% due to raw material price hikes, with new project prices possibly rising up to 10%. The housing market has shown 10-12% CAGR since 2021.
Business Vedanta forays into real estate with new subsidiary Vedanta Property Platforms Ltd
Vedanta Ltd has incorporated a wholly-owned subsidiary, Vedanta Property Platforms Ltd (VPPL), to enter the real estate sector. The move aims to monetize surplus land and non-core property assets, creating a platform for potential joint ventures and asset-light initiatives to fund expansion in its core metals and energy businesses. VPPL was incorporated in Mumbai on June 22, 2026, with an authorized capital of Rs 1 lakh.
Business Unsold Housing Stock Rises to 18 Months as Supply Exceeds Demand: Anand Rathi Report
India's unsold housing inventory increased to approximately 18 months in the first quarter of CY26, up from 14 months in CY24, as residential supply continued to exceed demand, according to an Anand Rathi report. Housing sales volumes declined to about 4 lakh units in CY25 from a peak of 4.8 lakh units in CY23, while residential value rose from ₹4,870 billion to ₹6,006 billion, indicating a value-volume dichotomy. The slowdown is attributed to a high base effect, affordability pressures, IT sector disruptions, and stock market corrections, but is seen as a volume correction rather than structural weakness.
Business India's office market shows caution despite resilient demand and selective rental gains: Colliers report
According to a Colliers report, India's office market recorded 35.7 million sq ft of gross leasing in H1 2026, a 6% YoY increase, with demand outstripping new supply. However, the market remains cautious amid moderation in Q2 2026, with Mumbai and Pune seeing 25-30% declines. Flexible workspace leasing surged 90% above the five-year quarterly average. Rents rose modestly (up to 5%) in active micro-markets, but overall vacancy stayed around 15%.
Business PE inflows into Indian real estate dip 23% to $1.13 billion in H1 2026, office sector surges
Private equity investments in Indian real estate fell 23% year-on-year to $1.13 billion in the first half of 2026, driven by a cautious global investment climate, according to a Knight Frank India report. The office sector bucked the trend with a 33% rise in inflows, accounting for 89% of total PE investments, while residential segment declined sharply.
Business Bengal to scrap Urban Land Ceiling Act to attract big ticket investments, says Finance Minister
West Bengal will scrap the Urban Land Ceiling Act to attract large-scale investments, with a focus on projects exceeding Rs 1,000 crore. Finance Minister Swapan Dasgupta said the government aims for the highest growth rate among Indian states in four years. SBI Research noted a decisive shift towards investment-led growth in the state budget.
Business Embassy to invest ₹1,500 crore in 3 million sq ft office space in Bengaluru: MD Aditya Virwani
Embassy Developments, part of Embassy Group, will invest ₹1,500 crore to build a 3 million sq ft office complex in Bengaluru. The first phase of a 35-acre, 6 million sq ft project has started. The company also posted a net loss of ₹872.47 crore in FY2025-26 but aims for ₹8,000 crore residential sales in the current fiscal.
Business Housing Sales Fall 6% in Major Indian Cities Amid Price Rise and Subdued Demand
Housing sales across seven major Indian cities fell 6% year-over-year to 90,715 units in the April-June 2026 quarter, according to Anarock data, amid rising prices and economic uncertainties. Average prices rose 7% annually. The data contrasts with a PropEquity report showing 19% growth.
Business India's mid-income housing volumes rise 8% q-o-q, 16% y-o-y: Elara Capital report
India's mid-income housing segment (₹10-30 million ticket size) grew 8% q-o-q and 16% y-o-y in Q4 FY26, according to an Elara Capital report. Luxury housing rose 12% q-o-q, while affordable housing slumped 7% q-o-q and 21% y-o-y. Tier-I cities saw 4% q-o-q absorption growth, led by Bengaluru and Kolkata. Listed developers gained market share, with presales up 21% y-o-y.
Business West Asia Conflict Drives 6% YoY Drop in Residential Sales in Q2 2026: Anarock Report
A 6% year-on-year decline in housing sales to 90,715 units in Q2 2026 was driven by uncertainty from the West Asia conflict and supply chain disruption, according to Anarock. New launches rose 7% YoY to ~1,06,000 units, while average prices increased 7% annually.
Business Three in Five UK Homes Remain Unsold as High Mortgage Rates Hit Buyer Demand
Zoopla reports that three in five homes listed for sale since January remain on the market, as high mortgage rates and elevated asking prices frustrate buyers. Agreed sales are 7% below last year, with sharp regional variations. First-time buyers are most exposed, while recent rate cuts offer some hope.
Prologis Presses Segro After $16.6B Offer Rejected, Touts Strategic Benefits
Prologis has intensified its pursuit of Segro after the London-based logistics warehouse operator rejected a £12.6 billion ($16.6 billion) all-stock takeover bid. Prologis outlined a strategic thesis including access to its larger network and balance sheet, while Segro called the offer 'inadequate, opportunistic and one-sided.' Shares of Prologis fell 2.2%, while Segro rose 7.8%.
Business GCC Commercial Property Index Hits 165 in Q1 CY’26 Amid Stable Pan-India Growth
The Pan-India GCC Commercial Property Rental Index (CPRI) stood at 165 in Q1 CY’26, with a three-year CAGR of 0.9%, signalling stable growth. Hyderabad, Pune, and Bengaluru are top GCC destinations, while Navi Mumbai recorded the highest three-year rental CAGR of 13.4%.
Business Godrej Properties acquires 47-acre Chennai land parcel for ₹500 crore revenue project
Godrej Properties has acquired a 47-acre land parcel in South Chennai through an outright purchase, with an estimated developable potential of 1.2 million sq ft and revenue potential of ₹500 crore. The project will focus on plotted residential units, capitalising on growing demand in the OMR corridor.
Technology Asset Homes Deploys Diaphragm Wall Technology for Safe Urban Basement Construction in Kerala
Asset Homes has become one of the first builders in Kerala to deploy diaphragm wall (D-Wall) technology for its premium project Asset Vismayam in Thiruvananthapuram. D-Wall serves as both a temporary shoring system and permanent retaining wall, accelerating timelines and enhancing safety in dense urban environments. Industry observers say this marks a significant shift for Kerala's construction sector.
Business India's luxury homebuyer is shifting from old money to new-age entrepreneurs and professionals
India's luxury homebuyer profile is undergoing a fundamental shift, with startup founders, GCC leaders, private equity professionals, and pharma entrepreneurs replacing traditional business families. According to ANAROCK, luxury housing appreciated ~40% since 2022, and 46% of new launches in Q2 2025 were in the luxury segment. Developers are adapting with homes emphasising privacy, wellness, and timeless design.
Business Max Estates posts ₹1,100 crore pre-sales in Q1 FY2027, up 5x year-on-year
Max Estates Ltd reported pre-sales of approximately ₹1,100 crore for Q1 FY2027, a more than fivefold increase year-on-year. The surge was driven by the full sell-out of Phase 1 of its luxury project The Terraces in Noida and strong sustenance sales from existing projects, with collections at ₹500 crore enabling debt-free construction funding.
Business Office Leasing Grows to 43 Million Sq Ft, Highest in First Half of Calendar Year: Cushman & Wakefield
Office leasing in India hit a record 43 million sq ft in H1 2026, a 5% year-on-year increase, driven by global capability centres (GCCs) which accounted for 38% of total leasing. Supply additions declined 10% YoY, and vacancy fell to its lowest since the pandemic, according to Cushman & Wakefield.
Business Sobha Ltd Q1 sales bookings surge 76% to ₹3,656 crore on strong housing demand
Sobha Ltd's sales bookings rose 76% year-on-year to ₹3,656.1 crore in Q1 FY27, the highest ever for the company. Strong demand in Bengaluru and Delhi-NCR drove the growth, with 1,432 homes and plots sold during the quarter.
Business Iconic Theyagaraja Theatre in Tiruvanmiyur to Make Way for ₹500-Crore Commercial Project
The nearly one-acre Theyagaraja Theatre property in Tiruvanmiyur, Chennai, will be redeveloped into a ₹500-crore mixed-use commercial project including retail, office and a multiplex. BBCL, part of Vummidi Enterprises, signed a joint development agreement with the theatre-owning Theyagaraja family, who will continue to operate the cinema after redevelopment.
Business Oberoi Realty to Invest ₹6,000 Crore in First Delhi-NCR Housing Project, Targets ₹16,000 Crore Revenue
Oberoi Realty announced its foray into the Delhi-NCR market with the launch of its first luxury housing project 'Three Sixty North' in Gurugram. The company plans a total investment of ₹6,000 crore and expects a revenue potential of ₹16,000 crore from the two-phase development.
Business Prestige Estates acquires 50% stake in Rs 4,500 crore Mumbai commercial project
Prestige Estates Projects Ltd has acquired a 50% stake in Advent Convention and Hotels International Ltd for Rs 504 crore to co-develop a Rs 4,500 crore commercial project in Mumbai. The project in Andheri East will have 1.50 million sq ft of leasable area. The company also reported a two-fold increase in net profit to Rs 1,195.5 crore for FY2025-26.
Business Pallikaranai Ramsar Curbs Threaten ₹72,000 Crore Economic Activity, CREDAI Warns
CREDAI Chennai estimated that restrictions around the Pallikaranai Ramsar site could impact ₹72,000 crore in economic activity and affect over one lakh patta landowners. The body urged the Tamil Nadu government to replace the blanket one-kilometre development freeze with a scientifically determined influence zone.
Business Maharashtra cuts stamp duty on 99-year lease agreements for Mumbai housing societies
Maharashtra Revenue Minister Chandrashekhar Bawankule announced a steep reduction in stamp duty for 99-year lease agreements of cooperative housing societies in Mumbai. Residential properties will attract a maximum duty of 0.5% and commercial properties 1.5%, down from previous rates that ran into crores. The move is expected to benefit hundreds of societies on government land across Mumbai city and suburbs.
Business M3M India Begins Handover of 1,000 Premium Homes at Gurugram Township
M3M India has commenced delivery of 1,000 premium homes at its low-rise residential development M3M Antalya Hills in Gurugram. The first phase welcomes approximately 100 families. The project has seen strong demand and price appreciation of 40-50% since its 2023 launch, reflecting growing preference for premium low-density housing.
Business K-shaped recovery drives realty market consolidation in favour of top real estate developers
India's housing market is witnessing a K-shaped recovery, with top branded developers steadily increasing market share while smaller builders face funding constraints and shrinking land banks, according to a Motilal Oswal Financial Services report. Industry executives attribute this to structural reforms like RERA and GST, and a shift in homebuyer preference toward credible, timely-delivery-focused developers.
Finance Nuvama-Cushman & Wakefield Joint Venture Fund Raises ₹4,000 Crore for PRIME Offices Fund
Real estate fund NCW, a joint venture between Nuvama Asset Management and Cushman & Wakefield, has raised about ₹4,000 crore for its PRIME Offices Fund. The fund originally targeted ₹3,000 crore but was upsized due to strong investor demand. It has committed 45% of capital to office assets across major Indian cities.
Technology Property title search engine Landeed to invest ₹30cr in FY27 for business growth
Property title search engine Landeed will invest ₹30 crore in FY27 to expand its business. The company, which raised around ₹100 crore from investors including Y Combinator, will focus on GPU infrastructure, small language models, and Indic OCR to convert fragmented property records into structured intelligence.
Finance Real Estate Private Credit Funds See Refinancing Demand Rise as Residential Sales Moderate
Real estate private credit funds are preparing for a rise in refinancing demand over the next 12 months as residential sales moderate after a multi-year run. Fund managers say the shift is toward strategic use of private credit, not distress-led lending, with developers proactively restructuring balance sheets.
Finance Nisus Finance invests ₹70 crore in three Bengaluru residential projects via real estate fund
Nisus Finance Services has deployed ₹70 crore from its ₹1,700-crore Real Estate Special Opportunities Fund I into three Bengaluru residential projects developed by Sumukha Housing Pvt Ltd. The projects have a combined gross development value of ₹300 crore and are located in key residential corridors. The investment reflects the firm's conviction in Bengaluru's stable residential demand.
Finance Puravankara to Divest Stake in Purva Ruby Properties to ICICI Prudential AIF for ₹145 Crore
Puravankara Limited will divest its stake in Purva Ruby Properties Private Limited to Prishal Office Parks III Private Limited for ₹145 crore. The buyer is owned by ICICI Prudential Office Yield Optimiser Fund – AIF II. The deal is not a related party transaction and is expected to close within 45 days. Purva Ruby's turnover contributed 1.06% to Puravankara's total turnover last fiscal.
Technology Square Yards Enters Unicorn Club with Rs 900 Crore Fundraise Ahead of IPO
IPO-bound real estate and mortgage platform Square Yards has raised Rs 900 crore in a debt-equity mix, entering the unicorn club. The round was anchored by EAAA Alternatives with Muzinich & Co. participating. The company plans an additional $50-60 million raise next quarter to strengthen its balance sheet, expand markets, and invest in technology before its public listing.
Business Signature Global to Launch More Branded Luxury Homes, in Talks With Lifestyle Brands: Chairman
Signature Global Chairman Pradeep Aggarwal announced plans to launch additional branded luxury housing projects in Gurugram and is in talks with lifestyle and hospitality brands for partnerships. The company also aims to invest ₹3,500 crore in land acquisition and construction this fiscal year, while maintaining its annual sales guidance of ₹10,000 crore.
Business Puravankara Acquires 10-Acre Bengaluru Land, Eyes ₹800 Crore Revenue from Housing Project
Puravankara Ltd has acquired a 9.73-acre land parcel in North Bengaluru for a residential project with an estimated revenue of ₹800 crore. The outright acquisition adds 0.89 million sq ft of developable area to the realty firm's pipeline, which includes 36.69 million sq ft of ongoing projects as of March 2026.
Business HiLITE Group to Invest ₹25,000 Crore in Kerala Real Estate and Infrastructure Over Five Years
Kozhikode-based HiLITE Group plans to invest ₹25,000 crore over five years to develop 50 million sq. ft. across Kerala, encompassing retail malls, IT parks, healthcare, education, residential, and commercial projects. Key initiatives include World Trade Centre Kozhikode, HiLITE Boulevard in Kochi, and YOO Hub Trivandrum.
Business What Do Americans Spend on Housing? WIRED Survey Reveals Affordability Crisis Deepens
WIRED's 2026 reader survey of over 200 Americans reveals a severe housing affordability crisis. Nearly half of renters and a quarter of homeowners exceed the 30% income threshold. Median monthly mortgage for new buyers is $2,152; median asking rent is $1,579. The data indicates significant consumer financial stress with implications for housing markets and consumer spending.
Business Bhumika Realty Appoints Amit Parsuramka as Chief Executive Officer
Bhumika Realty has appointed Amit Parsuramka as its new CEO. Parsuramka, with over 25 years of experience in real estate and investment, previously led Abhinandan Lodha Ventures and Bonito Designs. He succeeds Siddharth Katyal, who stepped down for personal reasons.
Business TCS Renews 1.5 Million Sq Ft Chennai Lease Worth ₹1,420 Crore Over 10 Years
Tata Consultancy Services (TCS) has renewed its lease for nearly 1.5 million sq ft of office space at Chennai One IT SEZ in Thoraipakkam, committing an estimated ₹1,420 crore in rentals over 10 years, according to property analytics platform Propstack. The lease, effective November 1, 2025, covers 14.66 lakh sq ft across multiple towers in Blocks A and B, owned by IG3 Infra Ltd. The deal underscores TCS's long-term commitment to Chennai, one of its largest delivery and talent hubs for global IT services exports.
Business Maharashtra CM: Dharavi redevelopment to follow Singapore, Hong Kong model, with global hub
Maharashtra Chief Minister Devendra Fadnavis announced that the Dharavi Redevelopment Project will follow modern housing development models from Singapore and Hong Kong. The first phase targets completion by March 2028, delivering 10,000 homes. The project includes a multi-modal transport hub, MSME support for local industries, and preservation of Dharavi's industrial ecosystem.
Business G Square revives industrial plot business, targets ₹2,000-crore sales this fiscal
G Square Group is reviving its industrial plot development business after a five-year hiatus, targeting ₹2,000 crore in sales this fiscal. The company also plans ₹5,000 crore in residential plot sales and has launched a new project in Gummudipoondi.
Finance Nexus Select Plans ₹2,000 Crore Northeast Retail Expansion; Diamond Plaza Acquisition Nears Close
Nexus Select Trust plans to deploy up to ₹2,000 crore towards acquisitions this year, expanding its retail real estate footprint in eastern and northeastern India. The proposed acquisition of Kolkata's Diamond Plaza mall is expected to close within one-and-a-half to two months, pending legal and corporate restructuring. Two additional acquisition deals are in advanced stages, targeting the Northeast and adjoining West Bengal. Chief Investor Relations Officer Pratik Dantara highlighted that the Northeast has emerged as an attractive consumption market, particularly for beauty and personal care products, with spending significantly above the national average.
Business IndiQube Expands Chennai Footprint with 1.5 Lakh Sq Ft Office Lease in Perungudi
IndiQube Spaces Ltd has signed a 15-year lease for 151,462 sq ft of office space in Chennai's Perungudi locality at a monthly rent of ₹64 per sq ft, with total rental commitment estimated at ₹235 crore. The move underscores rising demand for flexible office solutions from enterprises and startups in Chennai's OMR corridor.
Finance ASK Property Fund Launches ₹3,500 Crore Debt Fund for Mid-Income Housing
ASK Property Fund, part of the Blackstone-backed ASK group, launched its fourth debt fund with a target corpus of ₹3,500 crore (about USD 420 million) to invest in mid-segment housing projects across six key Indian cities. The fund will provide solution capital and growth capital to developers, targeting 20% returns.
Business DDA’s mega e-auction raises Rs 1,321 crore from 142 land and property assets
The Delhi Development Authority (DDA) has raised Rs 1,321.21 crore from the e-auction of 142 land and property assets across Delhi, nearly three times the cumulative reserve price of Rs 480.38 crore. The auction included residential, commercial, industrial and institutional plots, reflecting strong investor interest and the DDA's transparent digital platform.
Business Embassy Developments Targets ₹8,000 Crore Pre-Sales in FY27 Amid West Asia Supply Chain Pressures
Embassy Developments Ltd aims for ₹8,000 crore in pre-sales for FY27, a 73% jump from the previous year. Managing Director Aditya Virwani cited robust end-user demand but flagged West Asia-linked supply constraints for tiles and other materials, which are squeezing industry profit margins. The company will launch ₹19,500 crore worth of homes across Bengaluru, MMR, and Delhi-NCR to meet the target.
Business Kochi emerges as top tier-II real estate hub with strong growth: Cushman & Wakefield report
Kochi has strengthened its position as a top Tier-II office market in India, driven by 9.7 million square feet of Grade-A stock, robust leasing activity from flexible workspace operators and GCCs, and low mall vacancy of 4.5%. Residential prices rose 10-13% annually. The growth is supported by the metro network, connectivity, and quality of life.