Bengaluru Sees 19% Surge in Home Sales in Q2 2024 Amid IT Sector Boom
Bengaluru's residential market continues to grow with a 19% increase in home sales in Q2 2024, driven by strong IT sector and hybrid work models.
Bengaluru Real EstateHome SalesIt SectorHybrid Work ModelsSquare YardsReal Estate NewsSep 06, 2024
The growth in home sales can be attributed to the city's thriving IT sector and the increasing adoption of hybrid work models. Despite challenges such as flooding and water shortage, home buyer demand remains robust, driven by the city's reputation as a hub for technology and innovation.
Sopan Gupta, Principal Partner at Square Yards, noted that the east and southern suburbs continue to be in high demand, while the northern suburbs are rapidly emerging as key areas of interest for both apartments and plots.
Frequently Asked Questions
What is the growth rate of home sales in Bengaluru in Q2 2024?
19%
What is driving the growth in home sales in Bengaluru?
The growth in home sales is driven by the city's thriving IT sector and the increasing adoption of hybrid work models.
Which areas of Bengaluru are in high demand for housing?
The east and southern suburbs continue to be in high demand, while the northern suburbs are rapidly emerging as key areas of interest for both apartments and plots.
What is the outlook for Bengaluru's residential market?
The report highlights the resilience of Bengaluru's real estate market, which continues to attract homebuyers despite various challenges. With the IT sector expected to continue driving growth, the city's residential market is likely to remain a key area of interest for investors and homebuyers alike.
Who is the source of the data on home sales in Bengaluru?
The data is from a report by Square Yards, an integrated platform for real estate and mortgages.
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