Key Points
Housing sales in Bengaluru have dipped by 2% to 13,133 units from 13,390 units in the year-ago period due to a reduction in sales in the affordable category even as the office demand in the IT city remained flat at 3.5 million square feet, a report by Knight Frank has said.. Sales Decline in Affordable Segment..
The sales in the 50 lakh- 1 crore residential segment has dipped by 7 percent..
Asked if the water crisis in Bengaluru has had an impact on the real estate market, Shishir Baijal, chairman and managing director, Knight Frank India, told reporters that the water crisis has not had too much of an impact on the housing sales trajectory and cannot be attributed to the decline in sales or the market performance..
During Q1 2024, as many as 993 units were sold in the less than 50 lakh category which was a decline of 68%; 6065 housing units were sold in the 50 lakh to 1 crore category which was a 7% decline in sales in the category and 6075 units were sold in the 1 crore plus category which was an increase of 50%, the report showed...
Flex office areas accounted for 26% to the citys leasing activity which was followed by India-facing business and Third-Party IT Services at 14% and 9% respectively, the report said.. Impact on Apartment Rentals..
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