The city of Bangalore is often associated with technology and creativity which obviously explains the reason for its expanding Real Estate market. Such characteristics, along with the flourishing IT sector and infrastructural development taking place in the city, have caused an influx of individuals and families looking to make Bangalore their new residence. For those considering purchasing an apartment, this article will help one understand market tendencies, demand determinants and the best locations to buy in.

Real Estate Market of Bangalore: A Brief Overview

The past several years have been impressive for the Real Estate market of Bangalore. As per the latest report, there has been a 32% increase in real estate prices in the region while the price per square foot for property is estimated at ₹7,800. This growth can be attributed to the limited availability of properties and a dramatic increase in buyers after the pandemic.

Factors Contributing to Demand in Bangalore

1. Expansion within the IT Sector

Bangalore is regarded as the IT hub of the country due to the presence of numerous multinational companies and such positioning has only increased the demand for apartments in the region especially those located in close proximity to office parks and office hubs.

2. Construction of Infrastructure

The infrastructure in the city is advancing rapidly as improved metro connectivity along with better road systems has rendered certain neighbourhoods more suitable and attractive, and regions with location advantages and better online connectivity are experiencing a substantial push in property prices.

 

3. Developing Micro Markets

There are also new micro-markets developing in the real estate market of Bangalore. Some of these areas provide certain characteristics like being affordable, close enough to strategic areas or having specific features that make them appealing.

Best Areas For Renting Apartments In Bangalore

Whitefield

Whitefield is well known for being in the vicinity of IT industries and thus is quite popular amongst employees. The location features a blend of high-end condos and reasonably priced flats suitable for all types of consumers.

Sarjapur Road

This area is much in demand because of its good connectivity to education centres and IT business hubs. It is increasingly becoming a hot spot for the real estate business as more and more residential projects are coming up in the area.

Hennur

This locality is located in North Bangalore and offers lower rates on housing with good connectivity and amenities thus making it ideal for buyers who are sensitive to prices.

Varthur

Varthur Sarjapur, which is located beside great technology parks and recreational centres has been noticed as a growing residential area. It has strong locational advantages coupled with modern facilities.

 Different Types of Apartments: A Categorised Breakdown

 1. Economical Apartments:

Though it would be hard to locate options for low-income housing, regions surrounding the borders of the city provide affordable options that come in more compact sizes.

2. Reasonable Apartments / Mid Range Housing:

If one has a budget of more than 40 lakh and under 80 lakh, then a mid-range housing option is really great as it provides all the key essentials one would look for such as being family-friendly as well as the basic amenities required by any professional.

3. Premium and Luxury Apartments:

Luxury apartments are at the top of the list when it comes to pricing commencing from 1.5 crore, these apartments come with enhanced and advanced security features, state of the art amenities, and a variety when it comes to pricing based on available facilities and the location of the apartment.

Final Words:

The apartments of Bangalore are extremely diverse, be it affordable housing further up the borders of the city or high-end luxurious residences, there is something for everyone. Furthermore, with the help of trusted real estate platforms like Home4US, buying an apartment has never been easier; along with a broad array of options provided to the buyer, the process is simpler.