Top Bangalore Property Market Trends to Watch Out For
With world-class infrastructure, top IT companies, and growing employment opportunities, Bangalore (Bengaluru) is increasingly becoming a popular destination for young adults and new families. The airport centred city is home to some high-end projects and localities. Property prices in the city are reasonable and the annual price growth in Bengaluru amplified by a 442 count in 2020. In fact, at the present rate, it is anticipated that India will develop into a 5-billion-dollar economy by 2024 to 2025.
real estate market trends
- According to recent research performed by a well-known market research organization, Collier International India, the new supply of premium office and commercial spaces are expected to view a 140% increase by 2021 to 5.7 million sq. ft. from the present 4.7 million sq. ft. Whitefield’s micro market is forecasted to receive a 10 million sq. ft. pipeline.
- It is also expected that the Grade A or premium buildings in and around Hebbal Junction to continue to be in demand. This is due to their closeness to the CBD and ORR. Apart from these, the localities near Yelahanka and around the further north will probably need superior quality social infrastructure and residential mass to entice continual occupier demand.
- Already existing belief is that Bengaluru is a real estate sanctuary. However, there is a rising demand for housing across diverse populace; namely the millennials, senior executives, entrepreneurs etc. This rise in demand is basically due to the presence of exciting new projects built in upcoming areas like Whitefield, Sarjapur Road, etc.
- Among the major populace living in Bangalore, the students and young adult professionals make the majority. As result co-inhabiting has become very popular seems to be something that we could certainly expect to remain in 2021. This has caused a rise in the demand for 1 and 2 BHK apartments. Since the city in itself is expanding, this present trend may most likely remain in 2021.
In case you are a real
estate investor looking for the right place to put your money in, we would
suggest that you check Bangalore out. Our team of real estate consultants are
ever prepared to help you out. You can contact us via phone and email or even
visit us at our headquarters in Sector-132 Noida.