Bengaluru property market shows resilience amid price appreciation; sales increase 10% YoY: PropTiger.com report

The new launches in the city grew 8% YoY to 51,693 units in 2024, indicating developers’ confidence in the market.

Bengaluru, March 15, 2025: The Bengaluru residential market demonstrated strong resilience in 2024, with home sales increasing 10% year-on-year to 48,272 units despite a 12% appreciation in average property values, shows a new report by PropTiger.com, a leading digital real estate transaction and advisory platform.

 According to the report titled ‘Real Insight: Residential Annual Round-up 2024′, new launches in Bengaluru grew by 8% YoY to 51,693 units in 2024, indicating developers’ confidence in the market. Average property prices in the city on the other hand rose to INR 7,536 per sqft in Q4 2024 from INR 6,744 per sqft in the same period last year.

Despite this positive momentum, sales activity saw some moderation in the October-December quarter. The city recorded 13,236 unit sales in Q4 2024, a decline from 17,200 units sold during the corresponding period in 2023. However, new launches remained robust, reaching 15,157 units in the last quarter of 2024—marking a 20% increase over Q4 2023.

Among the top-performing localities, Devanahalli emerged as the most sought-after area, with property prices ranging between INR 8,500-9,500 per sqft. Whitefield followed closely with prices in the INR 9,000-9,500 per sqft range, while Varthur and Sarjapura commanded prices between INR 8,000 and 10,000 per sqft. Chandapura remained an affordable option, with prices ranging from INR 4,000-6,000 per sqft.

Several major infrastructure developments are poised to boost Bengaluru’s real estate market in the coming months. Additionally, the government has taken steps toward developing a second airport for India’s IT capital, with three potential sites already shortlisted. In a major push for urban development, the Karnataka government has earmarked INR 1,31,500 crore for transforming Bengaluru’s infrastructure, which is expected to have a positive impact on the real estate sector.

“Bengaluru’s appeal as a global residential hub sustains even as property values continue to show appreciation year after year. While the market adjusts to the new pricing realities (this is reflected in more buyers opting for smaller homes to maintain affordability), India’s IT capital continues to attract buyers and investors in equal proportions due to its undiminished appeal as an international hotspot,” said Mr. Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com.

Corporate Comm India (CCI Newswire)