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.
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