In terms of unsold inventory, Bengaluru finished third in Q2 with the most apartments sold.
Bengaluru: According to data published by JLL India, a global real estate services company, Bengaluru sold the largest number of flat units in India, 21% of 64,547 in the second quarter of 2023.
Sales of 64,500+ units increased by 4% from one quarter to the next. With a 24% share of the half-yearly sales, mid-segment developments, where an apartment unit costs between Rs 50 and Rs 75 lakh, dominated the market. However, the premium segment (more than Rs 1.5 crore) also contributed significantly to the sales volume for the combined Q1-Q2 period, with a share of almost 21%.
Homes in Bangalore for Rent have increased by 50%
From 24% in the first half of 2022 (H1 2022) to 19% in the first half of 2023 (H2 2023) sales, the proportion of cheap flats priced under Rs 50 lakh decreased. Mid-segment apartments showed a similar pattern, with the share declining from 28% in H1 2022 to 24% in H1 2023 despite still being the highest.
When compared to mid-segment flats, the rate at which sales are growing in the premium segment—apartments priced over Rs 1.5 crore—is noticeably higher. In H1 2023, sales of premium apartments surged by 37% year over year while mid-segment sales only increased by 4%.
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