When talking about Bangalore, the two words that come to our minds are technology and innovation. Because of these two aspects, Bangalore’s real estate market is thriving. The flourishing IT sector and crucial infrastructure development are attracting job hunters and families to look for apartments for sale in Bangalore. The increasing demand for residential properties is seen due to the various options for flats and apartments in different neighborhoods. We are here to guide you on the market trend of real estate along with the key factors that are driving the demand and the most popular locations in Bangalore.
Market Insights Of Apartments For Sale In Bangalore
In recent years, the real estate market of Bangalore has seen unmatched growth. According to a recent report, property prices have increased 32% year-on-year. This means the average per square foot price is ₹7,800. This surge is noticed because of the shortage of inventory and post-pandemic demand, as buyers are moving back to the property market with renewed interest.
Demand Drivers In The Bangalore Real Estate Market
Bangalore is becoming a preferable place for many families due to different reasons. The lifestyle that Bangalore provides to its citizens is considered safe and vibrant, with excellent infrastructure.
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IT Sector Growth –
One of the major reasons for the high demand for flats for sale in Bangalore is the expansion of the IT sector. It is the home of various multinational companies. This is driving the individuals to look out for the apartments near their offices.
2. Infrastructure Development –
The infrastructure of Bangalore is ever-evolving. The expansion of metro facilities and enhanced road connectivity is elevating the appeal of various neighborhoods. There are various popular areas that are experiencing price appreciation because of their strategic location and accessibility.
3. Emerging Micro-Markets –
Another demand driver of Bangalore property is the new emerging micro-markets. These markets offer unique characteristic which makes them demanding for a specific group of people.
Prime Locations for Apartments in Bangalore
There are some areas in Bangalore that are more famous due to the luxury amenities, better infrastructure, and proximity to schools and IT offices.
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Whitefield
Whitefield offers proximity to It companies. It is one of the reasons that people are looking for flat for sale in this area. Whitefield is a popular choice for working people. The area offers various kinds of property, from luxury apartments to mid-range flats. There’s something for every individual.
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Sarjapur Road
Sarjapur Road is another favored place for individuals because of its connectivity to many educational institutes and IT hubs. Various new projects are coming up in this area, which are driving the demand.
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Hennur
Hennur is located in north Bangalore. It is a favorable place for house hunters who want affordable options in the city without compromising on amenities and connectivity.
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Varthur
In recent times, Varthur has been offering apartments for sale in Bangalore. People are taking an interest in the area because of its strategic location near major tech parks and recreational facilities.
Types of Apartments Available For Sale
You get to choose from different apartment types. You can select the one that is suitable for your budget and offers the amenities that are preferable to you.
1. Affordable Housing –
Though the supply of affordable housing has decreased in reject times in the city, there are still some options available in emerging areas. Homebuyers may need to choose smaller units and houses that are located on the outskirts of the city.
2. Mid-Range Flats
If you are looking for flats for sale in Bangalore you get a lot of options between ₹40 lakh and ₹80 lakh. These quality living spaces are affordable and offer the necessary facilities.
3. Luxury Apartments
These apartments offer premium amenities and generally start from ₹1.5 crore, and the price goes higher depending on locations and features.
Conclusion
If you want to purchase flats or apartments for sale in Bangalore, the city offers various options. You can also take the help of a prestigious real-estate aggregator platform like home4us where you can get affordable flats. You can choose the flat type and budget and select from a wide listing.
