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It is believed that the ITeS and IT sectors' tight hold on Bangalore's residential real estate market has noticeably loosened over the last five years. For most city-based developers, the sales input from non-IT sectors has moved forward the halfway mark. Moreover, the changing consumer sketch of the city's real estate market shows average residential sales of 35,000 units a year. It is being seen in the sharing of office space assimilation by the non-IT sectors.

According to a current report by international property consultants, it indicated the share of office space combination by 'other sectors' (which includes media, pharmaceutical and healthcare, telecommunication and consulting) had grown to 26% in the first half of this year. This was from 11% in the same duration about a year ago. In the first half of this year, the share of ITeS/IT in office space assimilation fell by four percentage points to 61%.

According to an executive from a renowned realtor, the constancy of the city's real estate market was due to the fact that this sectoral mix in buyer profile, with no one segment imposing a huge share of the sales as was the case many years ago. Moreover, according to the industry data, in the last fiscal, while markets such as NCR and Mumbai struggled to post sales growth. However, Bangalore's real estate market accounted four straight quarters of chronological increase.

bangalore property sales - 04:24

Non-IT Estimated To Take a Big Bite of Bangalore's Property Sales

It is believed that the ITeS and IT sectors' tight hold on Bangalore's residential real estate market has noticeably loosened ove...

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Non-IT Estimated To Take a Big Bite of Bangalore's Property Sales

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