Bengaluru tops residential sales

With growing buyer interest and an established IT base, Bengaluru took the lead in residential sales claiming a market share of 27%, in 2016, according to real estate consulting firm CBRE. The city’s market share in 2015 was recorded at 25%. New residential supply during the year was 24% against 26% in the previous year.

CBRE Chairman — India and South East Asia Anshuman Magazine said, “Bengaluru’s status as India’s Silicon Valley, coupled with a strong commercial real estate development and leasing activity is having a positive impact on the city’s residential market. With developers focusing on quality and timely delivery of projects, the overall buyer sentiment seems to be improving. With various affordable housing projects also planned across the city, we can expect a further boost for this market in the near future.”

The eighth edition of CBRE PropFair, which was concluded on Sunday witnessed 200 projects being showcased by the top 60 developers in the city.