Why Rents Are So High In Bangalore?

One of my friends, Sarthak shifted to Bangalore for his new job. He was looking for a rented house in Bangalore. However, he was quite surprised to witness such an escalated rent in Bangalore. Hence, he asked, ”Why rents are so high in Bangalore?” To this, I responded that Bangalore's population has increased more quickly than the number of available homes.

In addition, Bangalore being the Silicon Valley of India, there is a proliferation of tech parks which has, in turn, increased the demand for housing. Rent in Bangalore are so high as a result of a lack of newly built homes and rising housing demand.

Also, in IT hubs like Bangalore, urbanisation has accelerated during the last two years. Students who completed their degrees during the two years of Covid entered the labour market and began working, albeit from home. During COVID as there was ongoing work from home, employees moved back to their home town. Nevertheless, after COVID most offices started calling their employees to start working from the office.

When they returned, many home buyers reported that rent in Bangalore is high in exorbitant way. The cost of the same apartments they previously stayed in before the pandemic has increased by 80% to 85%. Additionally, there aren't many possibilities, making it difficult to find a property in Bengaluru that is reasonable.

Due to the pandemic, several construction projects in the city have been delayed. In the city, there aren't enough houses and apartments for rent. Owners have responded by raising the rental rates, primarily in gated areas.

I’d like to conclude here as I believe this suffices your query,  ”Why rents are so high in Bangalore?” I hope this helps:)

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