Bengaluru Sheds Maximum Unsold Housing Stock in a Year - ANAROCK Report
/ --
Housing sales increase by 32% in a year, highest amongst the top cities
Unsold housing stock declined by 32%
Maximum new supply in the ?40 lakh - ?80 lakh budget range
(Logo: https://mma.prnewswire.com/media/701435/ANAROCK_Logo.jpg )
Anuj Puri, Chairman - ANAROCK Property Consultants, says, "Burgeoning commercial activity, a cutting-edge start-up culture and realistic property prices dictated by end-user demand have kept Bengaluru's real estate market vibrant, and generally more resilient than in other cities. The strong IT/ITeS economic dynamo continues to power most of the city's residential demand and supply, and housing sales have remained healthy despite all macroeconomic headwinds. In fact, Bengaluru's housing sales increased by 26% in Q3 2018 over the same period last year, the highest amongst all cities. Overall unsold stock declined by 32% and stood at 76,550 units in Q3 2018 in contrast to 1,12,995 units in Q3 2015."
Click here for City-wise Unsold Inventory (in Units)
Other Highlights
More than 20 large-size projects comprising residential, office spaces, malls, etc. are either operational or under various stages of construction in the city. East and South Bengaluru have the bulk of projects that promote the walk-to-work concept. Bengaluru added 1,58,820 new residential units between 2015 to Q3 2018. While 2015 accounted for 48% of the total new launches, 2017 delivered nearly 11% of the total launches. However, 2018 added 23,270 new units in the first three quarters. Mid-segment (Rs. 40 - 80 lakh budget range) housing continues to dominate Bengaluru's supply spectrum The share of affordable housing has risen dramatically in the last 2years, increasing from 16% in 2016 to 25% in 2018. Click here to download the report (short link https://bit.ly/2qbWJ4f)
Disclaimer: No Business Standard Journalist was involved in creation of this content