The real estate market of Bangalore is vast with many establishments and properties under its belt which are spanned across the tech city. There are both residential and commercial spaces in Bangalore which get sold like pancakes by buyers. Not only citizens from India, there are also non resident citizens who own properties in Bangalore, look to buy flats in Bangalore and own their valuable assets of property. The coming year of 2018 would definitely see an upward trend and shine of the real estate market of Bangalore.
The Bangalore real estate market includes flats in Bangalore, apartments, BDA flats in Bangalore, villas- both residential and commercial sprawling across the city. There are also furnished flats in Bangalore where the houses have all modern amenities along with furnishing and furniture already equipped from before. With every facility available nowadays, the buyers look for houses which give every amenity without them having to worry about any shifting and all. As such, the developers too have created magical and wonderful furnished properties for them. The real estate market, however, witnesses a demand for the 2 and 3BHK residential apartments in Bangalore. Bangalore is one of the most preferred property destinations in India due to its fast developing rate and also because of multiple amenities which are available in the city. There are many IT companies located in the city which makes it a more attractive hub.
The real estate market and properties in it can be divided into three major groups- the luxury housing group, mid income housing group and the affordable housing part:
Luxury housing: Bangalore has many luxury housing properties solely due to the increasing demand of top notch residential properties. Silicon City in Bangalore located in the northern part of Bangalore has the maximum villa properties and projects in line. There are also many apartments in Bangalore in this sector.
Mid income housing: This type of housing and properties are mainly owned by professionals of IT sector. The buyers of these housing and new flats in Bangalore part primarily look for the facilities and amenities which help them in their day to day life. Be it the proximity to an educational institution or a medical facility, the people related to this group looks for the good facilities.
Affordable housing: For the buyers who evaluate the price of properties a lot, there is the affordable housing and apartments in Bangalore. These property projects are located mostly in the suburban areas and the budget for this housing type is also high.
Despite the demonetization which affected India and the real estate sector in particular, Bangalore also witnessed a change or a slight reduction in purchase of properties. However, with change and acceptance of the new policies and methods, the real estate market in Bangalore has prospered again and is expected to shine and be on a high in the coming year 2018 too.