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Bengaluru sees maximum housing sales in 2016 among 7 big cities: CBRE

LiveMint logoLiveMint 08-05-2017 PTI

New Delhi: Bengaluru witnessed maximum housing sales among seven major cities during the last year with 27% share, according to property consultant CBRE.

“Bengaluru led residential sales in India in 2016 with a 27% share as against 25% in 2015,” CBRE said in a statement.

In supply, Bengaluru contributed 24% in 2016 as against 26% in the previous year. The other six cities tracked by CBRE are NCR, Kolkata, Mumbai, Hyderabad, Chennai and Pune.

“A robust commercial sector (the largest office market in the country), growing IT/ITeS populace, and strong buyer sentiments were established as the key drivers for the trend,” CBRE said.

The consultant said that Bengaluru, Chennai and Hyderabad accounted for over 50% share of the total housing sales last year. CBRE is organising its 8th edition of CBRE PropFair 2017 in the city.

Anshuman Magazine, chairman, India and South East Asia, CBRE said, “Bengaluru’s status as India’s Silicon Valley, coupled with a strong commercial real estate development and leasing activity is having a positive impact on the city’s residential market.”

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