Rakesh Reddy, Director, Aparna Constructions, For 99acres
Bengaluru, being a globally-renowned cosmopolitan city, is home to a significant number of IT companies. The enormous job market has created an extensive requirement for housing facilities. With an increase in urbanization and rising property prices, homebuyers are largely interested in investing in small apartments as it offers a satisfactory trade-off between comfort and affordability.
While Mumbai has had the leading demand for 1 BHK apartments, Bangalore has been witnessing a substantial push towards it as well. The inclination towards it is so pervasive that the average size of the apartments has been consecutively shrinking over the past few years.The younger generation prefers affordability and convenience of location over comfort and luxury that has resulted in depreciation of apartment dimensions by 17%.
Apart from young professionals, small and studio apartments are preferred by others like retirees and expatriates as well. They are certain that these spaces will go up on rent quickly and are the fastest seller on the resale market with attractive resale values.
Our Director, Mr. Rakesh Reddy authored an article on Bangalore adopting Mumbai’s trend of small apartments that was published by 99 Acres.
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