|
| |
The property market in Bangalore was booming and riding on the back of the success it made in the field of IT sector, until the bug of economic recession hit it hard to give a strong jolt to the local real estate industry. Property prices, which have so far been moving in upward direction only, have started to take a downward turn. A slowdown in construction activities has altered the whole equation of supply and demand of residential properties. While the real estate investors are hesitating to go ahead with a new construction project, the home buyers are heaving a sigh of relief as the crashing property prices make it possible for them to buy a residential property in Bangalore for accommodation purposes. The market trend shows that most people in the city are looking for houses that bear the price tags well below the mark of 40 lacs.
A small section of slightly wealthier buyers opt for the properties that fall within the price bracket of 40-75 lacs. Moreover, the rate of a property in Bangalore varies greatly according to the area wherein it stands. Our research has shown that some locations in the city are more popular and hence, more expensive than the others. We are showing the results of our findings here to keep you aware of the latest trend in the property prices in Bangalore.
| |
