Bangalore is now considered as the most sought-after IT destination in India, and consequently it has been one of the major hot spots for attracting many ITES and BPO organizations. Bangalore real estate trends are indicating tremendous growth, and the property prices in the city are soaring big time, be it the residential properties or the commercial building.
Prices of homes in Bangalore have increased largely in the last few months, thus making it very difficult for most of the residents to own a house in the city. As a result, renting a residential unit has proved to be a financially practical option, and also the property advisors are thinking that people will now favor to reside on rent/lease rather than buying a flat/apartment owing to rising property rates.
Being a prominent IT hub in India, the city has huge potential for the development of both residential and commercial properties, such as The Prestige City. When it comes to commercial segment, usually office spaces have been witnessing massive demand as many companies are either expanding their business or shifting their base to Bangalore. This has been one of the major reasons for escalating Bangalore real estate trends in the present market.
The Bangalore real estate builders and developers are also able to cater to the needs of many investors by developing a competitive market for up-to-date office spaces. In past few years, even the retail sector has displayed enormous improvement in Bangalore.
Apart from being a major IT-hub in the nation, Bangalore has been well-known as “Garden City”, housing many beautiful gardens. The climatic condition in this part of India is also considered as one of the major reasons for attracting more and more outsiders to the city. So far, the garden city has been quite successful in compelling the attention of many multinational investors and NRIs (Non-Resident Indians).
As foreign investment is progressively increasing in the city, and also many Indian real-estate developers are challenging to sculpt a position in the international market, there is a huge requirement for international standard offices in the quickly flourishing city.
Such a massive boost itself talks about the increasing property rates, while both local and national developers target the city to assure the allocation of quality spaces at affordable prices. With reference to commercial spaces, the requirement is also growing at a fast rate in the city, and the major IT companies in Bangalore are now looking to move to the outskirts to save on operational costs.