Resale market in Bangalore

Q: How is the resale market in Bangalore? Is the resale housing inventory piling up?

Bhargav Dev, Bangalore

6th September 2013

Real estate News in Bangalore

apartments in bangalore

properties in bangalore

bangalore real estate news

Follow Discussion

Also see discussions for

Bangalore Real estate News Real estate News in Bangalore

Replies (7)

Hi Priyaranjan, but there are many investors who are already sitting on ready-to-move-in properties are also exiting at discounts for want of funds and the fear of a further correction.

Roshan Singh, Bangalore

6th September 2013

Comment

I agree but there is an advantage for a home buyer, is that several of these apartments that investors are selling in cities like Gurgaon, Noida, Mumbai, Bangalore and others, will be delivered in 2013, so the wait for your dream home could become much shorter.

Priyaranjan Bhatt, Bangalore

6th September 2013

Comment

The housing resale market of Bangalore is driven by the peripheral vicinities in the south and east of the city, having close proximity to IT hubs. Sarjapur road is one of the booming areas available for resale, is equidistant from the Electronic city and Whitefield and has more than 11% of the properties available for resale. The resale percentage is 10.9% and 6.9% for Whitefield and Bannerghata while for JP Nagar and Marathalli it is 4.9% and 4.6%.

Murali Krishnan, Bangalore

6th September 2013

Comment

If you are planning to buy a home, this could be your chance for some bargain hunting as around five lakh apartments are expected to be delivered this year, shaking up an already oversupplied home market and forcing investors to sell them in a hurry.

Kanthi Sridhar, Bangalore

6th September 2013

How economic slowdown contributed towards piling inventory

Bhargav Dev, Bangalore

6th September 2013

Comment

A slackening economy and mounting inflation have further made the matter go downhill. Property consultants further confirm that new home sales in the city in the 2Q2013 have taken a dip by 23%, in comparison to last year. With the onset of recession, demand began to peter off as the employees of the companies get a severe blow

Roshan Singh, Bangalore

6th September 2013

But as far as I know, now people are now taking steps to get rid off all the excess property in exchange of a good deal. Moreover, selling off such properties will likely yield a return running between a crore or so, hence selling seems the most feasible option.

Roshan Singh, Bangalore

6th September 2013

Comment

Bangalore has been loaded with an additional 350000 apartments, out of which only 8% is up for sale. During this extent, around 45000 penthouses and villas were constructed in the city out of which 8% find their place in the resale market. Though the number of residential projects in the city have skyrocketed, the absorption rate has not kept up the pace

Devraj Shah, Bangalore

6th September 2013

Comment

Hi Everyone!! In last few years the real estate market of the city have been on the top of heap that was the perfect time for home buyers to invest in the market. However, with the sudden tightening of the salaries, homebuyers feel the heat of the inflation in the form of hefty EMIs. This has taken a major toll on the purchasing power of the buyers, as such reselling the house seems to be the only valid option.

Karthik Deshmukh, Bangalore

6th September 2013

Proximity to city center is one of the essential criterion that drives the residential real estate market, however, price of resale units varies depending on the location. A 1000 sq ft apartment in Jayanagar would range somewhat between Rs 1 crore-2 crore, while a residential unit with same dimension would cost 50% less in a new layout. Apartments which are adjacent to work hubs such as Bannerghatta Road, Whitefield and Airport road fall in the higher price bracket

Swati Pachasia, Bangalore

6th September 2013

Due to falling rental yields, resale of inventory in the luxury segment has climbed up to 30-35% in the last few quarters.

Roshan Singh, Bangalore

6th September 2013

Comment

According to property consultants, housing units of 40 lakh plus segment are leading to a saleable transaction in Bangalore. Market reports lap up that around 43000 apartments in the city are yet to be booked by buyers.

Murali Krishnan, Bangalore

6th September 2013