“Burgeoning commercial activity, a cutting-edge start-up culture and realistic property prices dictated by end-user demand have kept Bangalore’s real estate market vibrant, and generally more resilient than in other cities. The strong IT/ITeS economic dynamo continues to power most of the city’s residential,” Anuj Puri, chairman of ANAROCK Property Consultants says.
Bangalore’s housing sales increased by 26% in the September quarter over the same period last year, the highest amongst all cities. Overall unsold stock declined by 32% and stood at 76,550 units during the quarter in contrast to 1,12,995 units in the same quarter of 2015.
Mid-segment with price range of Rs 40 lakh to Rs 80 lakh housing continues to dominate the city’s supply spectrum and the share of affordable housing has risen dramatically over the last two years, increasing from 16% in 2016 to 25% in 2018.