Real estate is one sector in the country that never seems to fade away. It’s the only sector that has seen year and year growth and is estimated to be a market that is worth $5 trillion by 2024-25. Thus, Bangalore being the Silicon Valley of the country, there has been a significant rise in the millennials workforce that has instigated the real estate business to boom and also there are some new trends that have been set up.
Hence, to get the current real estate rends in Bangalore, all of them are provided below. Take a look.
Booming real estate trends.
Strong millennial workforce.
Bangalore has undoubtedly seen a strong workforce being established in the city. The booming millennial workforce has undoubtedly shaped the way the country is moving forward and ensures that the industry is driven into a new direction.
Out of the 7,700 startups that were established in the country in 2018, 1,200 new startups were from the city of Bangalore alone. Most of the real estate businesses have seen millennials drive the company and have, in turn, be profitable to some extent.
Affordable housing sector.
Through the help of the government is reeducation of interest on home loans along with other programs that are launched by the government to reduce the overall cost for a common man to avail a house has certainly seen the rise in a more significant amount of people availing more homes. Also, the market has seen a 22% growth in people having to buy houses, and this has set the trend in the city.
Co-living spaces are dominating the market.
Another real estate market trend in Bangalore happens to be the millennial-driven co-living spaces that are certainly raising the bar of the real estate business in the city.
The city is filled with unique entrepreneurs that have used the real estate business and made it what it as of today. With prime locations in Bangalore being used for co-living spaces, the market is still yet to expand and create more real estate projects that would undoubtedly see it rise in demand and establish dominance in the city.
Rapid growth in real estate projects.
Bangalore has never seen a decline in the overall real estate market prices and has ensured that it would remain the same for several years to come. Thus, with its absorption of more than 7.9 million square feet of office space in the first nine months, that says a lot of the city of Bangalore.
Several projects are big launched, and the city has topped the rankings by launching the most projects in the city where there is something available for everyone.
Therefore, it’s a market that never seems to fade away but is growing substantially. It will do so for the years to come and also carry out effective success for many for the many years to come. Its all thanks to the booming workforce and the economy to pay a closer part into making the market what it has become today.
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