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Welcome to Keeping It Real by @Housing.com!!!

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Namaskar. Salaam, Sat Sri Akal, Vanakkam.

Wish you all a very happy 2023.

That’s it from us for this episode. We shall be back again with a fresh episode of Keeping it Real by Housing.com with information and insights on the real estate industry.
Take care and stay safe.

We have created a novel idea to bring you up to speed with news, views, information, and lots more.

So, we thought about an audio solution.

We are back with a fresh episode of Keeping it Real by Housing.com. This is India’s first real estate-focused podcast. It brings to you updates, views, and insights about the realty sector, an explainer on a chosen subject, and a deep dive into an industry trend or topic.

New supply registered a 47 per cent quarter on quarter decline in Bengaluru in the fourth quarter (October-December) 2022. On a year-on-year basis, the supply dipped by 8 per cent. The latest report by PropTiger.com, the country’s leading online real estate brokerage company, says that a total of 42,215 new units were launched in Bengaluru in 2022, 106 per cent higher than the preceding year.

The majority of the new supply during 2022 was concentrated in micro markets of Sarjapur, Varthur, Chandapura, Whitefield and Kengeri. The Rs 45-75 lakh price bracket took the lion’s share of 34 percent each in overall new supply in 2022. As much as 45 percent of units sold in 2022 belong to the 2BHK configuration, closely followed by 3BHK with 39 percent share. Maximum sales, about 38 percent, were recorded in the Rs 45 lakh – 75 lakh price bracket. The prices for new supply and inventory grew by 9 percent year on year as of end of 2022.

Now similar to other Metro cities, Bangalore has been experiencing a slowdown due to the COVID-19 pandemic in 2020, and also in 2021, and in terms of renting if I see many people move back to their hometowns. Even for buying since the market is coming mostly from people who come from outside, there was a slowdown in the market. However, with the opening up of the economy and businesses returning to pre-COVID levels, offices have started in full swing, and be the hybrid work mode, which has helped the Bengaluru property market to pick up significantly in 2022. Now coming to your question, we see that the demand for residential property is almost at par with the pre-pandemic levels. There is some scope for recovery definitely, but it is almost 80 to 85% closer to the pre-pandemic levels, demonstrating the national trend of Positive Home Buyers. Sentiment has also infused confidence in the
developers. The pent-up supply that we saw in 2022 has almost doubled if we are comparing the same with 2021 which definitely was a lull period. So yes, so overall, the market of Bangalore is picking up, and you know we are very hopeful for the coming quarters as well.

Details of all these and much more in this episode.

That’s it from us for this episode. We shall be back again with a fresh episode of Keeping it Real by Housing.com with information and insights on the real estate industry.

Take care and stay safe.

We have created a novel idea to bring you up to speed with news, views, information, and lots more.

So, we thought about an audio solution.

We are back with a fresh episode of Keeping it Real by Housing.com. This is India’s first real estate-focused podcast. It brings to you updates, views, and insights about the realty sector, an explainer on a chosen subject, and a deep dive into an industry trend or topic.

You can catch the episode on Housing.com, on the Housing.com app, on
Earshot. in, Spotify.com, Apple Podcasts, Google Podcasts, Gaana.com, and Jio Saavn.

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