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Business Economy


Bengaluru sees 131 percent YoY growth in residential unit sales in Q3 2021

Bengaluru, Oct 4 (UNI) Knight Frank India, in its quarterly report, said Bengaluru has witnessed growth of 131 per cent YoY in the residential unit sales in Q3 2021, which is second highest in the country.
Knight Frank India, which is a leading international property consultancy, Monday launched its quarterly report.
Bengaluru’s residential sales and new launches witnessed growth of 131 per cent and 86 per cent YoY respectively in Q3 2021, the statement said.
The city recorded sales of 11,337 residential units and launches of 8,797 residential units during this period. Weighted average prices in Bengaluru market remained stable during the quarter, it added.
The report also cited Bengaluru registering the highest transactions in the office space in the country. The city reported office transactions of 0.40mn sqm (4.3mn sqft) while new completions were at 0.38mn sqm (4.0mn sqft), the statement said.
The cumulative office transactions for the first nine months of 2021 were reported to be at 0.73mn sqm, it said.
"Bengaluru commanded dominance by registering highest office space transactions in the country during the period of July-September 2021," Knight Frank India Chairman and MD Shishir Baijal said.
As the global commercial occupiers plan to return to office and explore real estate portfolio expansion in APAC region, Bengaluru’s office assets will find favourable preference amongst the occupiers and investors, he added.
UNI BDN SHK1628
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