Mangalore's Residential Market: An Analysis of Current Pricing Trends

Mangalore, a picturesque coastal city in Karnataka, is fast emerging as a hub for real estate investment. The city's residential market is witnessing an upward trend in pricing, with demand and supply both showing substantial growth.

According to a report by a leading real estate consultancy firm, the residential market in Mangalore has seen a price appreciation of nearly 10% in the last quarter. This indicates a high level of investor confidence in the city's real estate market. The average property price per square foot ranges from INR 3000 to INR 6000, depending on the location, amenities, and infrastructure in the vicinity.

The city's civic infrastructure, including well-planned roads, airports, and ports, is driving the growth of the real estate sector. With the development of the Mangalore Smart City project, the government aims to provide better connectivity, housing, and amenities to residents, thereby attracting more investors.

Another key factor driving demand in the residential market is the city's booming IT industry. An increasing number of professionals working in the IT sector are choosing Mangalore as their preferred location due to the availability of job opportunities and a high quality of life. This, in turn, has led to a rising demand for residential properties.

The residential market is dominated by a mix of local and national developers, with established players such as Brigade Group, Puravankara Limited, and Sobha Limited having a significant presence in the city. With a high demand for quality housing, developers are focusing on providing world-class amenities and innovative design concepts to cater to the evolving needs of homebuyers.

While the pricing trends are positive, affordability remains a concern for many prospective buyers. The pandemic-induced economic slowdown has impacted the purchasing power of many middle-class homebuyers, thereby affecting the demand for housing. To address this, developers are coming up with innovative schemes such as instalment payment plans and reduced down payments, thereby making it easier for buyers to invest in a property.

Overall, the residential market in Mangalore offers a promising investment opportunity for buyers. The city's growth potential, coupled with its strategic location and excellent infrastructure, is driving demand for residential properties. With developers focusing on providing quality housing options and innovative amenities, the residential market is likely to witness sustained growth in the coming years.