Real Estate Trends in Bangalore
The real estate market across the country has been looking up for the last two years and Bangalore is no exception. Not too long ago, though, the city had been blighted with basic infrastructure problems which resulted in a fair amount of lull in the real estate space. Over the last two years the consumer confidence is back in the city’s real estate with consumers once again looking to Bangalore’s as one of the preferred destinations to settle down and make the city their home.
The much vaunted start-up culture in the city has also contributed to this growing trend of young entrepreneurs and young professionals looking to make Bangalore a preferred destination for their residences. The urban young crowd has also altered the kind of homes now being developed by the developer community.
The home is no longer just a place of stay, it has increasingly come to define the lifestyle of the residents. From a comfortable stay, there is a greater inclination of individuals to opt for luxurious properties. Every day conveniences are now sought in the immediate neighbourhood.
Another concept that has been fast catching up in the city is that of ‘city-with-in-a-city’ as increasing number of people seek most of their frequently visited destinations near the city – schools, hospitals, shopping complexes amongst others.
Luxury housing has also been on the increase in Bangalore with increasing income levels, higher disposable incomes and better interest rates for home loans from the banks. Luxury homes provide for the best interiors, facilities for sports & entertainment as well as a host of other features make life convenient and comfortable.
The positive real estate sentiment in the city is expected to continue further as an increasing number of projects are currently under development and a host of new properties waiting to be made available for the consumers. A large number of NRIs and people from other parts of the country are also making a beeline for Bangalore and this augurs well for the continued developed of the city’s real estate space.
Improving social infrastructure, public transport and other amenities will give further flip to the growing real estate market. The prices therefore have increased marginally over the last two years and this is currently one of the better times to invest in the Bangalore real estate space. In the coming years, the land and property prices will continue to rise and offer excellent returns on investment.
Thus, whether it is for immediate occupancy, future planning or investment the real estate market in Bangalore is one of the best in the country. With positive trends and improving market conditions it is expected to continue as the best destination for buying homes in the country.