CY13 emerged as the best year for Bangalore residential markets across most measurable parameters – highest new launches (c 39,000 units), highest sales (c30,000 units) and the arrest in rise of unsold inventory. Bangalore witnessed new launches by top developers such as Prestige, Brigade and Puravankara. We
foresee CY14 to see quality launches (similar to 2013) at discounted prices of up to 5-7% to sustain the current healthy absorption run-rate of 14-15% (the highest since 2010).
We continue to reiterate our belief the robustness of the Bangalore residential marketis primarily due to its affordability attracting end-users and investors. Significant areas in Bangalore are priced at c Rs4,500-5,500 per sq ft equating to US$100-130k per unit. We strongly reiterate our view that residential products
within the sweet spot of US$75-200k sell the most in India.
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