Hello. I am a real estate consultant and can tell you whether is it a good time to buy property in Bangalore or if you should wait.
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Is It Good Time to Buy Property in Bangalore?
According to the market trends and the next five years, you can buy a property in Bangalore in 2024. I say this with some information in hand. Let me tell you about them.
I went through Knight Frank's "Asia-Pacific Outlook 2023", which predicted a 5% annual growth in Bangalore's residential market. Bangalore ranked 2nd amongst all the surveyed APAC cities.
City suburbs like Devanahalli are bringing first-time investors with a great potential to leverage rental income.
With the infrastructure and development in the IT sector, Bangalore has cemented its place as a business hub, mainly in regions like Whitefield and Electronic City. This gives the potential for leasing to grow to a great extent.
Bangalore is also expanding with satellite cities such as Bidadi, Devanahalli, Doddaballapur, and Nelamangala. They connect through the Bangalore Satellite Town Ring Road, giving more opportunities for investment and growth.
The Bangalore-Mysore Expressway and the Bangalore-Chennai Expressway are aimed at reducing time and fostering connectivity, which sets in good for real estate development.
Taking the next 5 years into consideration, Bangalore’s economy which is headed by the IT sector gives promise of profitability. Areas such as Devanahalli, Thanisandra and Banashankari can give solid returns.
The rental yield ranges between 5 to 7%, which makes the city an attraction for investors.
The crowd here supports renting out your property as a massive student and working professional population presents a good opportunity for you to rent out your property and earn good returns.
This is all from my end. I hope you find this useful in understanding whether is it a good time to buy property in Bangalore.
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Is It a Good Time to Buy Property in Bangalore?
Jignesh
1.3k Views
1
10 months
2024-06-30T21:57:22+00:00 2024-06-30T21:57:23+00:00Comment
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