Is the Bangalore Real estate market in a bubble that is waiting to burst? Is this a good time to buy into the city housing property market? Leading city developers feel that unlike the other two hot real-estate markets in the country Mumbai & Delhi the Bangalore property market is based on actual end-user & therefore is not in a bubble. Explains Girish KS, Head-Strategic Consulting/Jones Lang Lasalle/this city still has 85-87 % end users. It is investors who drive prices up or down. Mantri construction made an interesting point at a discussion hosted by MagicBricks.com. From 2000-2008/IT/ITES was the main driver of the city residential However/in 2010-2011, 68 % sale was made to non-IT/ITES buyers banking or insurance & consulting professionals & not to pure Infosys, Wipro or IBM the traditional IT/ITES segment. Many professionals are making investments to lease out. They are not speculators but long-term investors
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this trend of the non-IT/ITES buyers keeping the market moving, Mantri feels, was the reason why Bangalore continued to post sales even when other real-estate markets were struggling. I am expecting that next year IT/ITES will become the major driver of apartments again. With 300,000 latest jobs announced in the IT/ITES sector in the city, 40-50 % of the workforce will come from outside the city & they will start buying. As Ashish Puruvankara/Joint MD/Puravankara construction says, Bangalore is extremely cosmopolitan. Anyone who is not from Bangalore & came to work here does want to go back. Don't see this in other cities.
Bangalore is estimated to need 60,000 homes in this affordable category. But some developers feel merely cutting the size of units such as they did during the previous slowdown won help. A volume game considering the demographics of customers buying into reasonably priced homes, delivery timelines are critical. If the project cost shoots up beyond the sweet spot/no more affordable/said Jackbastian Nazareth/CEO of Puravankara Projects. The company reasonably priced housing arm/Provident Housing/has developed a 44-acre affordable housing project on the Yelahanka-Doddaballapur Main Road.
For the Bookings of Prestige lakeside habitat call @ 8971315026
The buzz around reasonably priced housing is growing stronger as there is resistance to midsized projects at current price points/said Amit Goenka/national director capital transactions at real-estate consultancy Knight Frank India. Considering several rounds of rate hikes, customers are attracted to low priced products & so are investors. Developers are looking at a time-based investment strategy where they are seeking investor money to meet their cash flow needs.
For Pre launch offer of Prestige lakeside habitat call @ 8971315026
For Details of Prestige lakeside habitat call @ 8971315026
this trend of the non-IT/ITES buyers keeping the market moving, Mantri feels, was the reason why Bangalore continued to post sales even when other real-estate markets were struggling. I am expecting that next year IT/ITES will become the major driver of apartments again. With 300,000 latest jobs announced in the IT/ITES sector in the city, 40-50 % of the workforce will come from outside the city & they will start buying. As Ashish Puruvankara/Joint MD/Puravankara construction says, Bangalore is extremely cosmopolitan. Anyone who is not from Bangalore & came to work here does want to go back. Don't see this in other cities.
Bangalore is estimated to need 60,000 homes in this affordable category. But some developers feel merely cutting the size of units such as they did during the previous slowdown won help. A volume game considering the demographics of customers buying into reasonably priced homes, delivery timelines are critical. If the project cost shoots up beyond the sweet spot/no more affordable/said Jackbastian Nazareth/CEO of Puravankara Projects. The company reasonably priced housing arm/Provident Housing/has developed a 44-acre affordable housing project on the Yelahanka-Doddaballapur Main Road.
For the Bookings of Prestige lakeside habitat call @ 8971315026
The buzz around reasonably priced housing is growing stronger as there is resistance to midsized projects at current price points/said Amit Goenka/national director capital transactions at real-estate consultancy Knight Frank India. Considering several rounds of rate hikes, customers are attracted to low priced products & so are investors. Developers are looking at a time-based investment strategy where they are seeking investor money to meet their cash flow needs.
For Pre launch offer of Prestige lakeside habitat call @ 8971315026
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