)
New home launches in Bengaluru reduced by 40% between January and June for the first time due to slowing economic confidence. The city performed better by launching more homes than other cities in the country and is expected to show higher growth in the remaining six months, according to real estate consultancy Knight Frank.
“North Bengaluru exudes optimism regarding new launches and absorption while South Bengaluru loses its sheen,” Knight Frank said.
However, the office market continues to be bullish in its demand as more firms set up offices in the city.
“Notwithstanding a few hiccupts, Bengaluru remains one of the best performing markets in India,” said Satish B N, Executive Director, South India for Knight Frank. “We do expect buoyancy in the second half of the year as the office market has shown substantial quantum of absorption and this will have a positive impact on the residential market too”.
