12/07/2024- The Bengaluru housing market has recorded a positive 4% growth in sales for the 1st quarter, according to a report by property consultancy Knight Frank India. This follows a strong performance in the January to June quarter, driven primarily by the Luxury housing segment.
Notably, luxury housing has dominated the sales, contributing significantly to the overall growth. For the first half of the year, from January to June, housing sales have increased by 9%, with 25,567 units sold compared to 23,542 units in the same period last year. This upward trend is encouraging news for the Bengaluru real estate market.
Reeza Sebastian Karimpanal – Executive President, Residential Business, Embassy Group.
“The recent surge in real estate sales in Bengaluru, particularly in the premium housing segment, is a testament to the city’s robust economic growth and positive home buyer sentiment. According to recent industry reports, the premium segment has seen a remarkable 76% annual growth, accounting for 50% of the overall sales in the first half of 2024. This trend is not only a positive indicator for the real estate market but also reflects the changing preferences of homebuyers who are increasingly seeking high-quality, premium living spaces from branded developers. Additionally, the increase in fresh supply by 9% to meet this demand is a clear sign that developers are responding to the market’s needs.
At Embassy Group, we are committed to catering to these evolving demands. Our focus on the premium segment is driven by clear market signals that this is where the volume and demand are. In the days ahead, we see the fast-rising aspirational middle class as our future customers and are poised to build for this dynamic demographic, recognising that they are at the core of the market’s momentum.”
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