Bangalore real estate trends: Mid-year reviewby chartered housing Luxury Apartments
It’s already the second-half of the year, and so, time to assess the residential property market in Bangalore. If you are planning to buy plots in Bangalore or any other form of reality, you would definitely be assessing how the city has fared so far. Before you approach one of the real estate developers in Bangalore, you would need to do some basic research. Which locality would be your preference, and which one’s doing well? What kind of apartments in Bangalore are you looking it? Or is it one of the villas in Bangalore that you are eyeing? Read on to learn more about the trends before you start choosing a home or a plot.
• During the first quarter of 2018, the city emerged as the top real estate market in South India. The demand for apartments in Bangalore or another form of the residential real estate has been triggered by the flourishing world of start-ups. The IT/ITeS sector has always been a driver of demand in the city. There were more property launches in Bangalore than other cities in South India during Q1, according to reports.
• Also, a study taken up by two leading online real estate search websites has suggested that the demand for homes and apartments in Bangalore are in the 1,409-sq.-ft. range. Talking about supply, real estate developers in Bangalore have largely catered to apartments with an average size of 1,428 sq. ft., catering to the needs of home buyers.
• Following the big ticket changes of last year, i.e, RERA and GST, the residential market in Bangalore is now in a state of consolidation. All these reforms will, in the long run, ensure that the credible and organised real estate developers in Bangalore will continue to do well. This augurs well for the buyer too, as he or she can seek RERA registration details from the builders or promoters.
• The consolidation phase will lead up to a huge boost by the time we step into 2020. The main reason behind this boost is the increase in luxury real estate investments by HNIs or high net-worth individuals. A huge chunk of city-based HNIs is seeking to invest in villas in Bangalore. There will be more niche and customised projects the near future, as the first half of the year has already shown. Many HNIs, expats and the young urban population of the city and elsewhere seek to invest in plots in Bangalore. Typically, they opt for micro-markets such as Nelamangala to invest in plotted developments so homes are developed in adherence with the best standards in construction, design and architecture. Kanakapura Road and Electronic City are two other micro-markets that are going strong and are sought-after by both the mid-segment and luxury categories.
Looking ahead, the rest of the year is also a period of consolidation, stability and transparency. Buyers, this is your time to invest!
Created on Jul 6th 2018 09:10. Viewed 203 times.