According to the Anarock report, average capital values across the city are projected to see a moderate growth of 10 per cent, with prime locations and established tech corridors potentially experiencing sharper growth.
“Average residential prices in the city stood at Rs 7,800 per sq ft by the end of the first half (H1) of 2024, up from Rs 4,960 per sq ft at the end of the first half of 2019,” said Dr Prashant Thakur, regional director and head-research, Anarock Group. It was square feet." ,
Bengaluru saw a highest price jump of 32 per cent (y-o-y) from Rs 5,900 per sq ft by the end of H1 2023 to Rs 7,800 per sq ft by the end of H1 2024.
Around 32,500 units were launched in the first half of 2024 – 30 per cent more than the first half of 2023 – and the premium segment (Rs 80 lakh to Rs 1.5 crore) dominated new launches with 39 per cent overall share, followed by the luxury segment ( Rs 1.5 crore and above). ) with 36 percent stake.
“The increase in new launches in the premium and luxury segments of Bengaluru in the first half of 2024 also contributed to the increase in average prices,” Dr Thakur said.
By the end of the first half of 2024, Bengaluru's available stock stood at around 45,420 units.
Demand for office space in Bengaluru has also increased since 2020. Last year, average office rents across major markets saw an annual increase of 4-8 percent.
The report also highlighted Bengaluru's serious urban challenges, such as traffic congestion, water scarcity, air pollution, lack of waste management and flooding due to increasing urban sprawl.
“Average residential prices in the city stood at Rs 7,800 per sq ft by the end of the first half (H1) of 2024, up from Rs 4,960 per sq ft at the end of the first half of 2019,” said Dr Prashant Thakur, regional director and head-research, Anarock Group. It was square feet." ,
Bengaluru saw a highest price jump of 32 per cent (y-o-y) from Rs 5,900 per sq ft by the end of H1 2023 to Rs 7,800 per sq ft by the end of H1 2024.
Around 32,500 units were launched in the first half of 2024 – 30 per cent more than the first half of 2023 – and the premium segment (Rs 80 lakh to Rs 1.5 crore) dominated new launches with 39 per cent overall share, followed by the luxury segment ( Rs 1.5 crore and above). ) with 36 percent stake.
“The increase in new launches in the premium and luxury segments of Bengaluru in the first half of 2024 also contributed to the increase in average prices,” Dr Thakur said.
By the end of the first half of 2024, Bengaluru's available stock stood at around 45,420 units.
Demand for office space in Bengaluru has also increased since 2020. Last year, average office rents across major markets saw an annual increase of 4-8 percent.
The report also highlighted Bengaluru's serious urban challenges, such as traffic congestion, water scarcity, air pollution, lack of waste management and flooding due to increasing urban sprawl.
