Bengaluru witnesses maximum drop in unsold housing stock

The report studied Bengaluru’s residential real estate trends since 2013, factoring in the city’s evolution in terms of infrastructure development, transport and connectivity. Given the ever-escalating challenges the city faces on these fronts, a marked preference for walk-to-work options by homebuyers has become evident. That said, Bengaluru’s overall market profile retains most of its sheen thanks to its highly favourable confluence of market drivers, it said.

Anuj Puri, Chairman, Anarock Property Consultants, said: “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 per cent in Q3 2018 over the same period last year, the highest amongst all cities. Overall unsold stock declined by 32 per cent and stood at 76,550 units in Q3 2018 in contrast to 112,995 units in Q3 2015.”