Bengaluru's real estate sector shows no signs of cooling down, with registered home sales reaching an impressive ₹19,631 crore in the April-June quarter of 2024, a 30% jump from the previous quarter. This remarkable growth, along with a 19% increase in transactions, highlights the city's sustained appeal to homebuyers.

Key Players and Market Trends

Prestige Group led the market with the highest number of residential transactions, followed by Godrej Properties. Meanwhile, Embassy Group topped the list in terms of sales value, recording ₹391 crore in home sales.

North Bengaluru emerged as the most sought-after region, accounting for 35% of registered transactions. The area's popularity extends to both apartments and plots, indicating a diverse range of buyer preferences. South Bengaluru also remained strong, with Electronic City and Jayanagar as key areas of interest.

Resilient Demand Amidst Challenges

Despite facing challenges such as flooding and water shortages, Bengaluru's real estate market remains remarkably resilient. This sustained demand is attributed to a thriving IT sector and the increasing adoption of hybrid work models, making the city an attractive destination for professionals.

North Bengaluru: The Epicenter of Growth

North Bengaluru continues to be a hotbed of real estate activity. Bagaluru, in particular, has witnessed a staggering 90% increase in residential property values since 2019, underscoring the area's rapid development and investment potential.

Conclusion

Bengaluru's real estate market is thriving, driven by a robust IT sector, favorable work models, and growing demand from homebuyers. Despite challenges, the city's property market remains strong, with North Bengaluru leading the charge. The impressive sales figures in Q2 2024 signify a promising future for Bengaluru's real estate sector.

-source: msn.com