According to a report, institutional investments in Mumbai's real estate market exceeded $1.2 billion in the first nine months of 2025, marking the city's fourth consecutive year of surpassing the billion-dollar threshold.
Key Highlights
- Mumbai’s real estate market attracted $1.2 billion in institutional investments year-to-date 2025, the fourth straight billion-dollar year.
- Domestic investors now contribute 48 % of inflows, with office assets leading at 35 % share.
According to the research from real estate services company Cushman & Wakefield, this performance indicates Mumbai's robust rebound and return to pre-pandemic investment levels. Thus far, institutional investment inflows into REITs and private equity have totaled $4.7 billion nationwide.
The total inflows are expected to reach approximately $6–6.5 billion in 2025, which might make it the second-best year ever for commercial real estate in India, according to Cushman & Wakefield.
Over the previous few years, domestic institutions have grown to account for 48% of inflows between January and September, with the remaining 52% coming from overseas investors.
According to the company, this structural change has improved market stability and mitigated cross-border capital flow volatility. With 35% of year-to-date inflows, office assets continue to be the most popular option for investors. Residential assets come in second at 26%, retail at 12%, and logistics and industrial at 9%.
"Institutional capital has found stability in India's strong economic fundamentals, robust domestic demand, and credible governance frameworks even amid global uncertainty," stated Somy Thomas, Executive Managing Director, Capital Markets.
Thomas said, the market's maturity and faith in India's long-term growth story are highlighted by the increasing involvement of domestic investors.
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Investor confidence in Mumbai's long-term growth is still strong, according to Thomas, who added that the trend is expected to pick up speed in the coming months due to ground-breaking projects like the Trans Harbour Link and Coastal Road improving connectivity.
Sixty-seven percent of Mumbai's inflows came from foreign investors, primarily from the United States and Japan. With $377 million of the $797 million in inflows, mostly from redevelopment projects, the residential sector emerged as the main beneficiary.
