High End Houses are a popular type of real estate in Bengaluru.

A real estate consultancy firm’s data shows that homes in the Rs60 lakh to Rs3 crore price range are the most popular in Bengaluru’s residential real estate. Three-bedroom homes are the most popular when it comes to how big they are.

Bengaluru has always been a growing real estate market and a popular choice for many homebuyers who want to be close to their jobs. IT and tech companies have significantly impacted home buying in the city, even though the market has taken a dip during the pandemic. This is true even though there has been a significant drop in home prices.

Reflecting on the resilient housing market in Bengaluru, the city saw a lot of attention from developers all year, unlike other top cities. In the last three months of 2021, the city saw the launch of 7,000+ new residential units, which shows that developers are becoming more confident. They had been mainly focusing on selling off the existing inventory.

People in Bengaluru were looking for bigger homes in Q4 of 2021, which seemed to be in line with market trends. Premium and bigger houses in Bengaluru looked like they were getting better, with 61% of all online searches in the last three months being for 3BHK and bigger units. Many people were looking for “larger” homes, so developers made their offerings a little different. About 70% of the units were 3 BHK or more.

Where Is There a Need?

Those areas, which had more land and were not as well-known, got more attention from builders and home buyers. More than two-thirds of the new homes were built in East Bengaluru and North Bengaluru. For example, many people were living in the outer parts of these zones.

There was still a lot of demand for homes in Bengaluru that were in the middle range of prices (between Rs 60 and 100 million), even though 30% of the demand was for homes in the high-end range.

In addition, as seen in the previous quarters, demand for independent homes rose significantly. In Q4, 2021, demand for independent homes will make up 45% of the total share of homes sold.

There will be a lot of optimism in the market in 2021, and that optimism is likely to carry over into 2022. Seeing what developers come up with in the new year to meet changing home buying needs will be interesting.