Bangalore residential market to be stable in 2012: Jones Lang LaSalle India

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Bangalore residential market to be stable:Jones Lang LaSalle
Jones Lang LaSalle India's Real Estate Intelligence Services report says that the Bangalore residential market will see steady demand in 2012.

“In 2012, the demand for residential properties is expected to be stable against robust supply in the market. The capital values for residential properties in the city are expected to either remain stable or record marginal growth. The slow price growth is attributed to a dip in sales volume owing to a sustained price increase in the past eight quarters, increasing interest rates and thereby diminishing affordability,” the report says.

It further points out that the Bangalore residential market is expected to see slowdown in new launches as developers are launching new projects very cautiously.

The report also pointed out that projects like Prestige Tranquility, Skylark Esta, HM North City, Mantri Alpyne, Brigade Meadows, Prestige Park View and Tata Promonte have witnessed good absorption in 4Q11.

Read more about: real estate, bangalore, market
Story first published: Monday, March 12, 2012, 10:28 [IST]
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