Bengaluru’s mid-segment housing market (Rs 40-80 lakh) faces a slowdown due to rising property prices, leading to a decline in demand during Q2 CY2024. This may prompt a price correction in the coming months.
Bengaluru’s real estate market is experiencing a cooling trend, particularly for mid-segment apartments. A recent report indicates a decline in demand for these mid-priced dwellings (typically priced between Rs 40-80 lakh) during the second quarter of 2024 (Q2 CY2024).
This slowdown is attributed to the continuous rise in property prices, making them less affordable for potential buyers in this segment. Notably, while the luxury and budget housing segments seem relatively unaffected, the mid-segment, which caters to a larger section of homebuyers, is witnessing a wait-and-watch approach from many.
This trend could potentially lead to a price correction in the mid-segment market in the coming months, as developers may strive to attract buyers by offering more competitive pricing or attractive incentives.
