Bangalore is one of the fastest-growing cities in India. Bengaluru is often referred to as the Silicon Valley of India. With a thriving IT industry, a booming economy, and a rapidly expanding population it has emerged as one of the most sought-after real estate markets in recent years. The demand for both residential and commercial real estate has gone up. Here in this blog, we will discuss various Bangalore real estate market trends and why the Bangalore real estate market is attracting people.

The city's rising population and popularity make it a prime destination for builders and developers in Bangalore.

Current Trends Related to the Bangalore Real Estate Market:

Increased demand for residential properties.

After the pandemic, the boom of IT industries in the place and the return of employees to the offices have led to an incredible rise in the demand for residential properties. This demand has been observed in the suburbs and peripheral areas. this has made the real estate market stronger.

Rise in Property Prices.

As Bangalore has witnessed a notable increase in property demands, the price hike is obvious. The average price per square foot took an astonishing jump. It increased by around 8-10%, depending on the locality.

Amazing Growth of Suburban Areas.

Some areas like Whitefield, Sarjapur Road, and Electronic City are seeing significant development. This development has improved the real estate market. People are hoarding these places as they offer modern amenities, better connectivity, and relatively multiple housing options compared to the city center.

Commercial Real Estate Boom.

The boom of the commercial real estate sector is also growing in this city with new office spaces, tech parks, and retail outlets. This is due to the steady arrival and opening of multinational companies for their offices in Bangalore.

All these trends have impacted the real estate market of Bangalore. this proves the market is thriving and has scope for the developers to take advantage of.

Price Rise and Yearly Comparison:

Last year in 2023, the average property price in Bangalore was approximately ₹6,500 per square foot. However, there is an incredible jump in the approximate price in 2024. This has risen to about ₹7,200 per square foot.

Here is a brief comparison:

• 2023 Average Price: ₹6,500/sq. ft.
• 2024 Average Price: ₹7,200/sq. ft.
• Year-on-Year Increase: ~10.8%

However, some of the localities have witnessed even higher appreciation. Whitefield and Sarjapur Road have experienced price rises of around 12-15%. Thus, this incredible rise has made these spots the opportunities in real estate investment.

Chances of Growth In Bangalore For investment purposes:

Tech and Innovation Hub-

This city continues to be the top destination for IT companies and multiple startups are established in the place every month. This consistent establishment has improved the chances of a steady demand for both residential and commercial properties.

Infrastructure Development-

The city is undergoing significant infrastructure upgrades, including the expansion of the metro network, new flyovers, and road extensions. These improvements enhance connectivity and make distant suburbs more accessible.

Education and Healthcare Facilities-

Not just for the professionals this place is also home to some of the best educational institutions. Thousands of students' flock to the place for higher studies. the healthcare facilities in India are also incredible. This makes it an attractive location for families who want to settle there for a long time.

Employment Opportunities-

There are multiple companies and tech parks, and Bangalore offers abundant job opportunities to new professionals as well as students from across the country. Also, the companies offer an incredible package to the professionals which is also a reason for working people to settle down in Bangalore.

Why Should You Buy Property in Bangalore?

• High appreciation rate has made the place promising. The consistent rise in property prices attracts people to invest in Bangalore real estate as it can offer high returns over time.
• Quality of life is very appreciating. There is a blend of modern amenities with a pleasant climate to please property buyers. Its numerous parks, gardens, and recreational spaces add to the quality of life.
• Future growth potential is high in the city with ongoing and planned infrastructure projects. This is why property values continue to be appreciated.
• The robust rental market is yet another benefit. There is a constant arrival of working professionals and students in the city. This has given rise to the rental market in Bangalore. This ensures a steady rental income for property owners.

All this info has made it clear why Bangalore real estate is thriving. It is a promising destination for developers and property buyers.

Comparison Chart: Key Developments in Bangalore Real Estate Market