Key Drivers of Real Estate Market Growth in Bengaluru
Recent Blogs
How does machine learning assist in lead generation for real estate?
20th Sept, 2024
Read More
Luxury Real Estate In Mumbai Registers Record Growth
28th August, 2024
Read More
What’s the significance of virtual tours in the home-buying process?
13th August, 2024
Read More
Why Kalyan Is Emerging As A Preferred Choice For Homebuyers?
19th March, 2024
Read More
The Impact Of The Mumbai Coastal Road Project On Real Estate In Mumbai
11th March, 2024
Read More
How is Andheri’s real estate market shaping up?
5th March, 2024
Read More
Why Thane West Should Be On Your List Of Top Locations For Real Estate Investment?
21st February, 2024
Read More
How is the real estate market shaping up in India?
12th January, 2024
Read More
The Influence Of Technology On Real Estate
5th January, 2024
Read More
How To Accumulate Wealth Through Real Estate?
4th December, 2023
Read More
Dubai Real Estate: A League of Its Own
6th October, 2023
Read More
Chandivali’s Thriving Real Estate Prospect
4th September, 2023
Read More
The Power of a Will and its many advantages
29th August, 2023
Read More
The Bright Prospects of Indian Real Estate 2023-2047
21st August, 2023
Read More
Exploring Ready-to-Move Comforts and Off-Plan Potential in Dubai
16th August, 2023
Read More
MahaRERA's QR Code August 2023 Implementation
10th August, 2023
Read More
India's Booming Real Estate Sector: Growth, Investments, and Infrastructure Expansion
7th August, 2023
Read More
The Significance of Sample Flats for Residential Properties
31st July, 2023
Read More
Hyderabad Real Estate: Unveiling the Rise of Newly Launched Homes and Shifting Buyer Preferences
24th July, 2023
Read More
Luxury Living: Why Now Is the Perfect Time to Invest in Goa
19th July, 2023
Read More
Kalyan Real Estate: A Gateway to a Smart and Thriving Future
14th July, 2023
Read More
The Hidden Costs of Apartment Buying in India: A Buyer's Guide to Informed Purchases
12th July, 2023
Read More
Understanding Real Estate Jargon: Carpet Area, Built-up Area, and Super Built-up Area
7th July, 2023
Read More
Dubai's Office Rents Surge Higher Than London and New York, Indicating Market Recovery
5th July, 2023
Read More
Grade A Commercial Properties: India's Thriving Office Revolution
27th June, 2023
Read More
Buy your own home VS Choosing to rent
22nd June, 2023
Read More
Maharashtra RERA Implements QR Code System for Transparent Project Information
19th June, 2023
Read More
The Power of First-Floor Tenement
13th June, 2023
Read More
Real Estate Investment Igatpuri
8th June, 2023
Read More
Investment Options and Avenues in Real Estate
19th May, 2023
Read More
Lifestyle living in dubai
15th May, 2023
Read More
Positive Energy Vastu Items for Home Décor
11th May, 2023
Read More
How Technology is Revolutionizing the Indian Real Estate
28th April, 2023
Read More
Drones in Real Estate
25th April, 2023
Read More
The Rise of Pune's Commercial Real Estate Sector - Factors Driving The Growth
18th April, 2023
Read More
What Makes The Tier 2 & Tier 3 Cities Good Places To Invest In
13th April, 2023
Read More
Navi Mumbai Metro Line 1 – The Real Estate Opportunity
7th April, 2023
Read More
The Rising Demand for Housing in IT hub of Navi Mumbai's
6th April, 2023
Read More
Top Reasons that Drive NRI Investment in the Indian Real Estate Market
31st March, 2023
Read More
Gurugram & Noida - The two most promising investment destinations in the NCR
29th March, 2023
Read More
Top Emerging locations of Bengaluru
24th March, 2023
Read More
Women Empowering the Real Estate Market - Discounts and Benefits from Home Loans
21st March, 2023
Read More
Travel from Thane to Dombivli Under 20 Mins - The Benefits of Motagaon-Mankoli Creek Bridge
17th March, 2023
Read More
Top Reasons to Invest in Dubai's Real Estate Market
10th March, 2023
Read More
Pros of Investing In Real Estate in Top Cities In India
9th March, 2023
Read More
Beyond Mumbai and Pune - Invest in Maharashtra's Tier II Cities
28th Feb, 2023
Read More
Top 5 Proptech start-ups in India
22nd Feb, 2023
Read More
Why Andheri is Mumbai's Hottest Location To Invest
17th Feb, 2023
Read More
The Ultimate Showdown - Navi Mumbai vs Mumbai
10th Feb, 2023
Read More
REITs VS Fractional Ownership – The Big Picture On How They Work
23rd Nov, 2022
Read More
Housing demand to rise during festive season – Propfynd finds out!
28th Sept, 2022
Read More
Tips to buy property in India
20th Sept, 2022
Read More
Which is better – Buying a house or renting a house in India.
15th Sept, 2022
Read More
If you are considering investing in Bengaluru's real estate market in 2023, you are joining a rapidly growing group of individuals. Bengaluru allures many with its vibrant economy, heterogeneous culture, and copious prospects.
Renowned for its flourishing tech industry, Bengaluru has emerged as one of the most critical innovation hubs globally, attracting corporate giants such as IBM, Microsoft, and Google, who have established expansive offices in the city. Furthermore, Bengaluru's start-up culture and entrepreneurial spirit have contributed significantly to its economic growth and development.
Several factors underpin the trends in Bengaluru's real estate market, including population growth, economic development, and shifting demographics. For instance, as an increasing number of people relocate to Bengaluru, the demand for housing is surging, resulting in a rise in construction and development. This has given rise to a broad spectrum of real estate trends in Bengaluru, encompassing opulent high-rise apartments to cost-effective starter homes, catering to diverse segments of the market.
Let’s look at the key drivers of real estate growth in Bengaluru :
Simplifying the digital home-buying process
As the Silicon Valley of India and a major center for skilled workers, Bengaluru attracts a diverse range of professionals, including start-up enthusiasts, corporate investors, and migrant workers. In response to this dynamic environment, Bengaluru has aggressively developed digital techniques to enhance customer experiences, such as virtual reality and 3D modeling, guided reality, and walk-throughs. The implementation of digital conferences for client meetings, digitized paperwork, and online payment acceptance has further strengthened the real estate sector in Bengaluru. Consequently, the adoption of digital technologies is expected to contribute to an increase in Bengaluru's real estate growth rate.
According to a recent report, Bengaluru has been identified as the second-best market in APAC cities to watch out for in 2023 in terms of residential outlook. As a real estate investment advisor, it is important to closely monitor such updates. The report further predicts that residential pricing in Bengaluru, the largest of the top three Indian cities surveyed, will likely increase by up to 5% YoY in 2023, indicating a positive trend for real estate prices in Bengaluru.
Why is there a demand for affordable housing in Bengaluru?
The demand for accessible and affordable housing options in Bengaluru is being fueled by the city's growing population and the increasing cost of living. According to current Bengaluru real estate trends, home prices are expected to rise in the near term as demand outstrips supply. Furthermore, with members of Generation Y now legally permitted to make their first real estate investment, there is an upward trend in demand for both residential and commercial buildings.
As a result of these factors, a seller's market is likely to prevail in the future of Bengaluru's real estate industry, driven by limited supply and increasing demand. It is imperative for real estate professionals to remain aware of these trends to make informed decisions and maximize opportunities in this dynamic market.
Mixed-Use Development Properties - A rising trend
Bengaluru real estate trends have witnessed a significant shift towards mixed-use developments, which provide an all-in-one solution for residential, commercial, and recreational needs. These developments offer unparalleled convenience, bringing together various amenities and services within a single project. Moreover, they foster a sense of community, as residents can interact with each other in shared spaces, making them an ideal choice for those seeking a holistic lifestyle in Bengaluru.
Commercial Properties:
The Indian commercial real estate market is expected to continue its stable growth from 2022 to 2023, with Bengaluru predicted to have the highest growth rate in prime office leasing among 24 APAC cities studied at 5% to 7% YoY in 2023. This growth is driven by the increasing millennial workforce in Bengaluru, leading to greater demand for commercial spaces such as offices, co-working spaces, and start-up studios. However, not everyone can invest in massive commercial spaces that require substantial investments.
Nonetheless, India's commercial real estate market is undeniably expanding, with a projected CAGR of almost 13% from the fiscal year 2022 to 2027, according to the Mordor Intelligence study. The report suggests that commercial space is growing rapidly, providing India with the necessary infrastructure to meet its evolving needs. Furthermore, significant institutional investments in the coming years are expected to boost growth in India's commercial real estate sector.
The demand for commercial real estate is being fueled by India's economic expansion, while governmental initiatives and policies related to urban development, such as Smart City and AMRUT, are anticipated to influence the demand for real estate infrastructure. Given these favorable conditions, the future of India's commercial real estate market appears optimistic.
Article authored by: Team Propfynd
Date: 03rd March, 2023