The Bangalore property market: An Overview
The Bangalore property market is the most vibrant and resilient among Indian cities. With a promising future, it is an attractive option for those looking to invest in real estate. Here is an overview of the Bangalore property market to help you understand its pulse so that you can make well-informed investment decisions.
- The Bangalore property market is fuelled to a great extent by the steady development of the IT-ITeS sectors in the city. Good physical and social infrastructure together with supportive government policies such as RERA has been other factors that have made Bangalore one of the most desirable investment options among metro cities in India.
- The Bangalore property market continues to be driven by the end-user. There is an overall upsurge in sentiment among them, resulting from the improvement in the city’s market fundamentals. This, in turn, has led to appreciation of prices.
- The mid-segment of the Bangalore property market has performed extremely well in the last year, accounting for about 50% of the supply. The affordable housing segment also delivered a strong performance. With real estate prices witnessing an uptrend, the affordability factor is today playing a decisive role in the sale of apartments. As a result, both segments are expected to continue doing well.
- The Bangalore property market is also witnessing a steady development in the luxury housing segment. Premium housing catering to the High Net-Worth (HNW) segment has developed gradually in a slow and staggered manner. In 2018 it accounted for 26% of total supply.
- As per reports from ANORAK Property Consultants, healthy sales have seen Bangalore (11,500 units) perform more than three times as well as Hyderabad (3,800 units), the next best performer in the South. It has performed nearly thrice as well even in terms of launches (6,800 launches as opposed to Hyderabad’s 2,600). Even at a pan-India level, the Bangalore property market was second only to the Mumbai Metropolitan Region (MMR) in terms of supply and absorption in the first quarter of 2018.
- Bangalore has shed a significant portion of its unsold inventory in 2018, as per reports. The city is expected to maintain this healthy state of affairs irrespective of macroeconomic headwinds.
- Pre-launch offers by prominent builders have been received well in the Bangalore property market, with a significant percentage of units being sold in some cases. This growing interest in pre-launches could be indicative of the increasing participation of the long-term investor in the Bangalore property market.
- In terms of trends for 2019, residential real estate is likely to continue growing. An upsurge of at least 20% is expected, according to M. Murali, Chairman and Managing Director of Shriram Properties. South and East Bangalore are going to be highly desired investment locations in 2019. Affordable rates in Sarjapur-Attibele Road, Whitefield Extension, and Kanakpura Road make these some of the localities to watch out for in 2019.
With the Bangalore property market offering a plethora of options across segments and locations, it is important to go in for reputed builders like Aparna Constructions. Strategic locations, well-planned projects, state-of-art designs, and world-class amenities ensure that you get value for money.
Last updated on July 31, 2019