Bengaluru residential property prices surge 57% in five years: ANAROCK report

Bengaluru's residential property market has experienced a significant boom, with prices rising by 57% over the past five years, according to a recent report by ANAROCK titled "Bengaluru's Real Estate - Your Gateway to Opportunity."

The first half of 2024 saw housing sales surpass new launches, with approximately 34,100 units sold—an 11% increase compared to the first half of 2023. This surge highlights the strong demand in Bengaluru's real estate market.

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The average residential property price in Bengaluru was ₹7,800 per sq. ft. at the end of the first half of 2024, compared to ₹4,960 per sq. ft. at the end of the first half of 2019. The inventory overhang has significantly reduced, falling to a record low of eight months by mid-2024, down from 15 months in the second half of 2019. Available inventory stood at approximately 45,400 units, down 11% from the first half of 2023.

The first half of 2024 also saw a 30% increase in new launches, with around 32,500 units introduced to the market. The premium segment led these new launches, accounting for 39% of the total, while the luxury segment captured a 36% share.

This report underscores Bengaluru's robust real estate market and its evolving business ecosystem, positioning it as a prime investment destination.