Bengaluru sees 19% hike in home sales: Report

PTI, Sep 6, 2024, 7:56 PM IST

Representative image (Source: Pexels)

Bengaluru: Bengaluru’s residential market continues to display steady growth as registered transactions maintain upward momentum both sequentially and annually, a report by Square Yards, an integrated platform for real estate and mortgages, said on Friday.

According to the data, 28,356 transactions were recorded in the city during the second quarter of 2024, marking a 19 per cent increase over the previous quarter.

“Despite challenges such as flooding and water shortage, home buyer demand remains notably resilient, underpinned by a strengthening IT sector and the blend of full-time and hybrid working models,” said Sopan Gupta, Principal Partner, Square Yards.

According to him, east and southern suburbs retain their appeal, northern suburbs are rapidly emerging as key areas of interest for both apartments and plots.

“Branded developers, particularly those delivering quality projects, are witnessing successful launches with swift offtake,” he added.