Bengaluru's premium housing market grew 11.2% YoY in 2024 reaching 94,126 units

Bengaluru's premium residential real estate sector saw an 11.2% year-on-year growth in 2024, emerging as the key driver of the city’s housing market, according to a report by real estate consultancy NKlusive. The segment, defined by properties priced between ₹7,000 and ₹15,000 per square foot, accounted for over half of the total market supply.

New launches in the premium category rose by 16.3% to reach 94,126 units, supported by strong end-user demand that sustained absorption rates at 53%. In contrast, the affordable housing segment—priced below ₹7,000 per sq. ft.—registered a dip in sales, suggesting signs of saturation.

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The report highlighted a noticeable trend toward lifestyle-focused housing, with compact luxury formats gaining traction in East and Central Bengaluru. These offerings cater to upwardly mobile buyers seeking premium living within urban limits.

Luxury and ultra-luxury segments also continued to witness upward price momentum, propelled by increasing affluence and aspirational demand. The premium segment recorded a 4% year-on-year rise in weighted average prices, increasing from ₹13,284 to ₹14,000 per sq. ft.

Buyer preferences in 2024 leaned towards larger homes, particularly 3 and 3.5 BHK units, driven by evolving work-from-home needs and the rise of nuclear families.

Bengaluru’s maturing real estate landscape, supported by improving infrastructure and rising disposable incomes, continues to position the city as a resilient and opportunity-rich residential market.