Bengaluru’s real estate market showed strong resurgence in August 2023, part of Q3 trends reflecting post-COVID recovery with robust sales growth. Residential sales hit 47,100 units in the first nine months of 2023, surpassing full-year 2022 figures of 49,500 units.​

Q3 2023 Sales Surge

Bengaluru recorded 16,400 residential units sold in Q3 2023 (July-September), up 30% in new launches from Q2’s 11,400 units. Year-on-year, Q3 sales jumped 60% to 12,590 units from 7,890 in Q3 2022, with 86% quarterly growth over Q2 2023. East Bengaluru led with 47% of sales and 16% QoQ rise, while inventory overhang stayed low at 10 months.

​Bengaluru’s real estate market in Q3 2023 (including August) saw the strongest post-COVID resurgence in East, North, and South zones, with East leading sales and launches. These segments benefited from IT hubs, metro connectivity, and spacious housing demand.​

Growth by Zone

East Bengaluru dominated with 47% of citywide sales (up 16% QoQ) and 54% of new launches (up 22% QoQ). North Bengaluru captured 27% of sales and 26% of launches with 62% QoQ growth in launches. South Bengaluru followed at 21% sales share and 17% launches (21% QoQ rise), while West held 5% with steady 5% QoQ sales growth.​

Key Localities

• East Bengaluru (Whitefield, KR Puram, Varthur): Led due to IT corridors and metro Phase 2; 52% of inventory here.​
• North Bengaluru (Hebbal, Yelahanka, Thanisandra): Airport proximity and tech parks drove 62% launch surge.​
• South Bengaluru (Electronic City, Bannerghatta): Infrastructure like Yellow Line metro boosted demand.​

Updated Statistics

Key Recovery Drivers

Employee returns to IT offices post-pandemic boosted demand, alongside preferences for spacious homes after lockdowns. Low interest rates, job market stability, and infrastructure like metro expansions in KR Puram and Whitefield fueled confidence. Mid-segment homes (Rs 80 lakh-Rs 1.5 crore) dominated 64% of launches.​

Market Statistics

Future Outlook

Analysts noted sustained momentum from pent-up demand and economic rebound, positioning Bengaluru as a top recovery market. Property prices rose 18% YoY in Q3, driven by luxury launches in periphery areas.​

  Bengaluru Real Estate markets