Bengaluru Luxury Housing Sales Slump Despite Real Estate Boom
India's real estate market is thriving, but Bengaluru's luxury housing sector is struggling to keep up. Find out why.
Real EstateLuxury HousingBengaluruHousingReal Estate MaharashtraJul 22, 2024
Bengaluru, along with Mumbai and Pune, accounted for an impressive 63% share of the total residential sales in India during the first half of 2024. Despite the overall market strength, Bengaluru's luxury housing segment underperformed compared to the same period last year. While the city recorded 200 luxury sales in Q2 of the previous year, only 10 units were sold this year. The report noted a shift in investment towards mid-segment housing within the city.
Frequently Asked Questions
What is the current state of India's real estate market?
India's real estate market is booming across both commercial and residential sectors.
How did Bengaluru's luxury housing segment perform in Q2 of 2024?
Bengaluru's luxury housing segment underperformed compared to the same period last year, with only 10 units sold.
What is driving the demand for mid-segment housing in Bengaluru?
Rental appreciation, a return to office trends, and improved infrastructure are contributing to the demand for mid-segment housing in Bengaluru.
What is the expected growth of Bengaluru's residential stock by 2030?
Bengaluru's residential stock is expected to rise from 600,000 units to 800,000-900,000 units by 2030.
What are buyers looking for in Bengaluru's residential market?
Buyers are increasingly seeking thriving physical and social infrastructure, technology-enabled smart homes, and clean, green environments.
Related News Articles
India's Office Space Goes Green: 65% of Offices Now Certified
The Indian government's push for net zero emissions by 2070 is driving the adoption of green certified offices in the country, with a significant 65% of office space now holding green certifications.
Revolutionizing Real Estate: MahaRERA's AI-Powered Project Grading System
MahaRERA's innovative initiative aims to bring transparency to the Maharashtra real estate market by grading projects based on construction quality, financial health, legal clearances, and project overview.
Pune Real Estate Market Sees 50% Surge in Transactions, Hits 39,961 Deals in Q2 2024
Pune's real estate market is booming, with a 50% increase in transactions in Q2 2024. Experts attribute this growth to strong demand for high-end properties and upcoming festivals.
Rana Daggubati Discusses India's Screen Count Issues Due to High Real Estate Costs
Actor Rana Daggubati recently spoke to IANS, highlighting the impact of high real estate costs on India’s low screen count. He emphasized that while increasing the number of screens would help, the cost of land in India is a significant barrier. With less
NAREDCO Maharashtra Teams Up with IFC EDGE to Boost Green Building Initiatives by 2025
In a significant move towards sustainable real estate, NAREDCO Maharashtra has partnered with the International Finance Corporation (IFC) EDGE to promote green building initiatives by 2025.
India Design 2025: Balconies Re-Emerge, Customization of Space, and Sustainability in Real Estate
As India steps into 2025, the real estate sector is witnessing a significant shift towards sustainable and innovative design. Balconies are making a comeback, and customization of living spaces is becoming a key trend. Experts emphasize the importance of