BENGALURU: There is a general impression that the real estate sector in Bengaluru has hit the rock bottom, but data released by Trespect, a real estate consultancy firm, for 2019 proves otherwise. The report states that Bengaluru has been resilient in the residential realty market space and has emerged as one of the strongest markets in the country.
The unsold inventory in the residential space has declined by 14 per cent, while inventory overhang has stood at 15 months, which is way below the 18-month threshold needed to consider it a healthy realty market.
Continuing with the trend of last two years, East Bengaluru outshone other parts of the city. Of the 50,450 units sold in 2019, about 35 per cent were from these parts, which include Whitefield and Bellandur among others. The unsold inventory too recorded a drop of 18 per cent in Q4 of 2019 as as compared to 2018.
Sunil Mishra, CEO, Trespect, said, “Bengaluru has witnessed a healthy 14 per cent growth in new launches. The mid-segment, which constitutes Rs 40-80 lakh homes, accounted for 42 per cent share last year. Sarjapur Road and Whitefield were among the top five micro-markets that recorded maximum new launches due to the increased commercial development, presence of IT companies and good social infrastructure.”