There’s much more to the beautiful city of Bangalore than filter coffees and breweries. The metropolitan city that boasts of the best climate in India also houses global corporate biggies. Beating Shanghai and Silicon Valley, Bangalore featured top of the charts on a global ranking basis dynamic growth by real estate services firm JLL’s annual City Momentum Index (CMI). This report shortlists cities across the world by the pace of change of the city’s economic and real estate market and the city’s potential to sustain this dynamism.
Source: Huffington Post
If that’s not music to a real estate investor’s ears, we don’t know what is! Despite a few recent concerns on liveability and infrastructure, investors have for the longest time preferred Bangalore – even after cities like Kochi, Chennai and Hyderabad joined the league by spurring development. Wondering why the charm stays? Read on to see what makes Bangalore the best bet for any real estate investor.
- Climate Haven
I am sure we have lost the count of times, listening to someone rave about the unique climate of Garden city. It might sound trivial, but climate has been that one feather on Bangalore’s cap that has always distinguished this metro. Neither too hot nor freezing cold, its soothing, breezy, and non-humid weather is addictive.
- Technology Capital and Startup Hub
Fondly called the Silicon Valley of India, Bangalore is a centre for technology companies and tech startups. This unicorn generator is not just the birthplace of Flipkart, but also host to tech behemoths like Amazon, Facebook, Google etc. and a cradle for Indian IT industry. This buzzing career central attracts migrant talent that then invests in housing keeping the demand high and property appreciation higher. For instance, an investment in a posh Bangalore locality could guarantee double-digit price appreciation, estimated at least at 13-14 per cent annually. Some of the buyers have even experienced more than a100 percent ROI in just 6-7 years buying a property in Bangalore.
- Education Centre
Bangalore is also home to some of the best schools and colleges offering world-class education. Majority of the students coming to Bangalore for higher studies stay back and pursue careers in the city, becoming a part of its cosmopolitan culture, settling down, and ultimately invest in its booming real estate.
- Landscape and Culture
Bangalore has a beautiful cosmopolitan culture to fall in love with but the city also houses sprawling parks, beautiful gardens, lakes, and unique landscapes. Bangalore is a perfect combination of urban and green making the living experience here a delight.
- Stable market
Bangalore has always been a stable market for real estate with some of the lowest numbers of unsold inventory. According to Anarock Property Consultants, “Housing supply in Bangalore hiked over two-fold to 6,800 units in January-March 2018 from 3,000 units in Q4 2017. Unsold housing stock in the city dropped by nearly 5 per cent from 96,000 units in Q4 2017 to 91,000 units in Q1 2018”.
These are just a few factors boosting the city’s realty fame, but Bengaluru is an ideal spot to explore for investors in search of a stable market with a long-term vision, because there are plenty of attractive options. Most of the residential areas are well-equipped units with all facilities including parks, hospitals, schools, malls, retail outlets and restaurants.The robust macro economic dynamics and stability of the city will continue to fuel the real estate business here.