Bengaluru Residential Market Trends Q1 2024: Examining the Fluctuating Market Dynamics – What You Need to Know Housing.com
Bengaluru, known for its vibrant IT sector with a plethora of established tech companies and emerging startups, has experienced significant economic and real estate development. The city has undergone remarkable changes, drawing considerable attention to its thriving residential property market. Presently, Bengaluru stands out not just as a top choice for IT professionals but also as an appealing option for those looking to invest in real estate.
A Brief Recap of the Previous Year In 2023, Bengaluru’s real estate market witnessed notable activity, with a total of 497,965 new residential units launched, marking a 14 percent increase from the previous year. Interestingly, the bulk of this new supply was concentrated in specific micro-markets such as Bagalur, Panathur, Krishnarajapura, Anekal, and Yelahanka, suggesting targeted development efforts in these areas. The pricing dynamics of these units reveal the domination of homes in the INR 1-3 crore price bracket, constituting 42 percent of the overall new supply.
