(MENAFN- NewsBytes)
Bengaluru is South India's numero uno in housing property market
23 Apr 2018
Bengaluru has emerged as the ruler of South India, as far as real estate housing market goes.
The city triumphs other in-demand cities like Hyderabad and Chennai to be on top of the property game, with robust demand and supply at all levels.
From January to March 2018, Bengaluru posted supply of nearly 6,800 new units, as against Hyderabad's 2,600 and Chennai's 2,100 units.
Possible reasons: 'Increased commercial activity, positive buyer sentiments'
Details
A study done by Mumbai-based ANAROCK Property Consultants reported that Bengaluru also leads in absorption front, with 11,500 units being sold in the same quarter.
Even a countrywide survey revealed that Bengaluru's residential market is just behind Mumbai Metropolitan Region.
This can be attributed to "increased commercial activity, positive buyer sentiments, infrastructure upgrades and improved job opportunities," says Anuj Puri, Chairman, ANAROCK Property Consultants.
2017 last-quarter to 2018 1st-quarter, 127% increase in housing supply
Whopping!
Bengaluru even surpassed its own achievements, if the quarter-on-quarter analysis is to be believed.
As compared to last quarter in 2017, this year's first quarter saw a jump of 3,800 units of supply, which translates to a whopping 127% increase.
The report adds that the city's housing stock has declined by 5% and the prices have registered a 1% increase, all on q-o-q basis.
Mid-segment category grew by 300% in 2018's 1st quarter
Fact
When it comes to segment-wise demand and supply, except the ultra-luxury category, every segment recorded good growth, with mid-segment category (Rs. 40 lakh - Rs. 80 lakh) registering maximum rise at 300% for 2018 first quarter. Even high net-worth and affordable housing saw steady growth.
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