The economic downswing that had a huge impact over country's real estate seems to have left Banglore's realty market unscathed. It would be better to say the this Electronic city has shown good resilience to all the odds that country's properties have witnessed in 2013. According to a report by Cushman and Wakefield, city is expected to continue with its smart performance in both commercial as well residential sector in 2014.
The predictions for a stable realty market of properties in Bangalore owe their origin to the positive factors prevalent here. One of the most important of these is the burgeoning IT sector. Both north and peripheral parts of the city have seen a tremendous increase in the IT/ITeS firms in several localities. This expansion has bee the main reason behind a stable demand market for retail, and residential space. People prefer houses located close to their offices, and with the step-up in the employment opportunities, people are giving a serious thought to buying a property in the area nearby to their offices in IT parks. Global majors too have shown an increase in interest to invest in the city.
There are several localities where buyers are showing an increased propensity in making a purchase for flats in Bangalore. Whitefield, Marathahalli, Bannerghatta, and Hosur Road continue to be the hot-spots of realty. These, along with Old Madras Road, have seen a rise in the number of new launches. Most of these new projects target mild and high-segment brackets. In the areas where a saturation point has reached, builders have resorted to vertical constrictions. The boom in IT sector has done only good for city as it contributes immensely to the service sector. The rapid expansion of information technology has made the big business firms to buy land parcels in city's prime localities.
Another factor that has gone well with Bangalore real estate is the huge office demand; if the facts are to be taken into account, the city ranks second in terms of office demand, next only to Tokyo. The city has beaten metropolitans like Delhi, Mumbai, and Gurgaon far behind and other countries in Asia Pacific region. At a time when big cities are sitting on stock-piles of unused inventories, the consumption in the Electronic city is stable, and hence the demand-supply ratio mismatch is not of much concern. In the third quarter of 2013, the number of new launches stood at 40,000 and it ranked third in the country in terms of new launches.
The predictions for a stable realty market of properties in Bangalore owe their origin to the positive factors prevalent here. One of the most important of these is the burgeoning IT sector. Both north and peripheral parts of the city have seen a tremendous increase in the IT/ITeS firms in several localities. This expansion has bee the main reason behind a stable demand market for retail, and residential space. People prefer houses located close to their offices, and with the step-up in the employment opportunities, people are giving a serious thought to buying a property in the area nearby to their offices in IT parks. Global majors too have shown an increase in interest to invest in the city.
There are several localities where buyers are showing an increased propensity in making a purchase for flats in Bangalore. Whitefield, Marathahalli, Bannerghatta, and Hosur Road continue to be the hot-spots of realty. These, along with Old Madras Road, have seen a rise in the number of new launches. Most of these new projects target mild and high-segment brackets. In the areas where a saturation point has reached, builders have resorted to vertical constrictions. The boom in IT sector has done only good for city as it contributes immensely to the service sector. The rapid expansion of information technology has made the big business firms to buy land parcels in city's prime localities.
Another factor that has gone well with Bangalore real estate is the huge office demand; if the facts are to be taken into account, the city ranks second in terms of office demand, next only to Tokyo. The city has beaten metropolitans like Delhi, Mumbai, and Gurgaon far behind and other countries in Asia Pacific region. At a time when big cities are sitting on stock-piles of unused inventories, the consumption in the Electronic city is stable, and hence the demand-supply ratio mismatch is not of much concern. In the third quarter of 2013, the number of new launches stood at 40,000 and it ranked third in the country in terms of new launches.
Courtesy By :- http://www.sooperarticles.com/real-estate-articles/properties-bangalore-resilient-current-economic-slump-1295665.html
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