Bangalore is one of the real estate markets in India holding the lowest number of unsold house units. People from around the world are now interested in making residential and commercial real estate purchase in the city. When cities like Delhi, Mumbai and Chennai are holding lots of unsold properties due to delay in supply and also low demand, real estate developers in Bangalore are seeing a rise in demand for luxury housing. Here are five trends, every home buyer interested in Bangalore real estate market should know.
- Demand for Luxury Villas in Bangalore Is Rising
To many people, luxury housing is something which is out of reach. It is true but not in Bangalore. Of course, the property rates are going up with time, but so is the interest of buyers. People in Bangalore are showing willingness to buy luxury villas instead of choosing small mid-range houses. The city’s growing population and rapid growth is making it hard to find value for money in small properties. As buying luxury villas in Bangalore is still affordable, people are going for it.
- NRIs Feel Safe about Their Investment in Bangalore
Staying away from their homeland, NRIs looking to get a property for retirement or to park cash somewhere in hope for better returns, are investing into Bangalore real estate market. Several reports have confirmed that Bangalore is getting huge investment in real estate from NRI investors. The reason behind the purchase is the climate and business environment in the city. From both retirement and long-term investment purposes, Bangalore is a city with guaranteed success.
- Villa Plots Making Dreams Possible
There are people who can’t invest a lot in luxury villas in Bangalore, but they wish to hold properties in the city. In such cases, villa plots have turned out to be great, affordable options to secure their money and earn easy returns. With limited liabilities, buying a villa in Bangalore is a great deal for both who wish to construct a house in future and those who think real estate as a long-term investment option. Projects near Whitefield and Thanisandra still have some villa plot units which are guaranteed to bring higher returns on investment. The areas offer value for money deals on luxury villas and villa plots in Bangalore.
- People Are Taking Home Loans More Than Ever
Many nationalized banks have significantly reduced the interest rates for home loans. The fall in interest rates has encouraged people to buy properties which were beyond their reach. Now, owning a home in Bangalore is easier than ever and majority of home buyers are going for home loans. Options are many, so as the mortgage plans.
- Businesses Are Booming
Because it’s Bangalore – the Silicon Valley of India. Businesses have been growing here since decades and now, the city has turned into technology hub and the center of attraction for many global businesses like Apple, Google, and Microsoft etc. The rise of business means more employment opportunities. Meaning that the demand in housing will continue to grow in Bangalore. And the home buyers who will turn into a decision maker soon will surely reap the benefits of the growth Bangalore real estate market is seeing.