Bangalore has been the hub of real estate activity for decades now. Vis-a-vis the rest of the country, Banglore steals the limelight with excessive demand for real estate and the city delivering one project after another relentlessly. Even the unfortunate pandemic times did not deter the people from properties, compared to the other top Indian cities, though there was a significant dip in demand and sales. 2022 is witnessing an upward trend in terms of real estate development. Major projects are planned and completed soon and sell out fast as well. The residential projects are in the spotlight as this sector is much in demand, and there are regular premium projects developed.
2022 has become a very lucrative year, as the demand and sales have been at their best since the coronavirus pandemic. The housing segment is booming as there are many new projects developed. Being at home during the pandemic has fostered a feeling amongst the people to own their own homes. During the 1st Quarter of 2022 (January to March), Bangalore shows an annual growth of 34%, with 13,663 abodes sold. Bangalore ranks no. 3 in residential sales volume after Mumbai and Delhi. If the growth continues, the market will recover and will likely reach or even cross the sales that were in 2019, pre-pandemic times.
With life returning to normal after the pandemic, people are on a spree to buy homes, and realtors are also launching new projects. Few government initiatives like low-interest rates for home loans, infra initiatives, subsidies, etc., boost the market. The home buyers are also opting for bigger and luxury homes, loaded with amenities and features and in ideal locations. With work prospects returning to normal post-pandemic, people are keen to invest in exquisite living spaces. The developers also offer elegant dwellings with various appealing choices at attractive prices.
The benefits of investing in real estate are plenty that people have realised during the pandemic times. Financial stability, best investment tool, security, high returns, and comforts of hassle-free living have been instilled in the people in general, and priorities for most have thus shifted to investing in real estate. Demand for luxury residences is on the rise.
The builders today in Bangalore are building excellent projects and are going all out to provide the best properties, which are an instant hit with the demand-driven market. With the fear and joblessness of the pandemic gradually fizzling out and the government offering the best incentives, it is in the best interests of both the investors and realtors to play their roles exceptionally well. Both are in a win-win situation where both will gain substantially. With the demand for luxury properties on the rise, the builders are also offering the most brilliant projects. Avant-garde architecture, curated fittings and interiors, plush and exhaustive amenities and features with huge open spaces, greenery and water bodies, popular locations, and affordable pricing with easy payment plans are very offered by most builders today. The discerning buyers are also investing in the best available options per their needs, budget, and location preferences.
All said and done, the real estate market in Bangalore 2022 is very lucrative and is on an upward trend today. In times to come, the market will surpass the pre-pandemic times, with demand and supply steadily increasing by the day.
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