Top Real Estate Trends And Statistics For Bangalore 2016
ByRaja Shekar| 2016-05-19
Bangalore, known with various names like India’s Silicon Valley, IT city is developing with a fast and steady pace and therefore it witnesses real estate developments like no other metro in India. With every day that passes by, more and more people from all parts of the world migrate to Bangalore for jobs and startups thus demanding a need of more commercial and residential properties. Since the standards of livings are constantly improving people do not just want an ordinary house but something that is the best and still lies in their budget. Considering all this, the real estate sector is working on various facets that change the trends every year. Read through the sentences that follow to know about these trends and stats that will be witnessed in 2016.
Gone are the days when Bangalore saw purchases only of the luxury http://www.40squares.com/" target="_blank" rel="nofollow">properties for sale. In the last few years, the mid sector economy and demand for mid range flats increased drastically. People started considering the fact that paying EMIs is better than paying rents. Reports suggest than in the last two years, these demands have grown by around 25%.
Since the economy is getting weaker and inflation is constantly rising, the number of buyers and investors of real estate have reduced drastically. The reports and surveys done in Bangalore stated that there are more than a lakh constructed units that still have to sold out. Although every part of the city is developing, most of the people have inclinations towards buying properties close to their workplaces and therefore the areas like Whitefield, Kormangala, Hebbal, Sarjapur, Yelahanka, etc are still popular amongst the buyers. Due to the huge demands the rates in these areas are very high.
The development projects in Bangalore are much better in terms of providing overall packages to their customers. Buyers these days would demand all the modern facilities as well as well developed society and neighborhood as well if they plan to settle down at that place. It is due to this reason that people are willing to invest in the projects of already famous builders and firms which provide great facilities along with the house that you buy.
With the relaxations being offered by the government in property investments, reduced loan rates as well as benefits that can be sustained, it is believed that the investments in the real estate sector in Bangalore will increase considerably. It is also believed that the projects will fetch buyers for the unsold properties, as the economy will be strengthened.
In spite of the huge gaps between the supply and demands in the real estate sector, the prices of properties in Bangalore is swearing and it is believed that they won't be coming down in the 2016 as well to the expected levels. People like it easy these days and therefore the demands of projects such as villas and http://www.40squares.com/flats-for-sale" target="_blank" rel="nofollow">Luxury apartments, where the buyers can readily move in will increase. The projects with furnished homes, world class amenities latest technologies and security measures will be preferred by the buyers.
To sum it up, the stats suggest that the demands for residential properties in the mid segment will increase but the buyers will not get discounted deals or offers as the prices do not look like coming down anytime soon. So if you are eyeing an investment, now is the time to choose a project of your choice and own your property in a giant metro like Bangalore.
.jpg)
