Bangalore is a good place to acquire residential property both for occupation and for investments purpose. There has been an unprecedented demand for residential property in Bangalore with prices hardening for all categories of properties. According to market sources the prices of the property have been stabilized and steadily climbing up. The residential property market had never seen the high as it is in the grip of today. There are many reasons why Bangalore city is a good residential option to invest your money. Bangalore has a host of these pluses that make it a preferred destination in a growing economic scenario, a residential boom is predictable.
There are a host of factors that come into play to impact the growth of this space. The first factor is the employment potential of a city or region. Bangalore has a huge potential in its IT and ITES arenas. The sort of recruitments happening in just these two segments is enough to fuel a steep growth in the residential property market.
Bangalore city is expanding on all sides augurs well for the residential property industry getting to see growth on all fronts. Today, more IT Parks dot the Whitefield Road well beyond and the development is pushing on here too on the other side, Mysore Road belt with the upgraded road and new expressway on the anvil will play host to more commercial development.
During the year 2011 when almost all other matured property market witnessed dip in transaction and price correction was on everyone's lip, Bangalore registered both healthy transaction as well as upward price movement. Some property analysts believe Bangalore is possibly the safest location for investments in the world. Here price do not skyrocket or get hyped but they do not go downwards too like they have in many other prominent locations in India. This is because Bangalore is a market where most of the property purchases are by end users and not speculators. Speculators treat it as a pure investment for financial gains.
Global Associations view Bangalore as next property Hub. The Paris based International Real Estate Federation (FIABCI), a global real estate business association, with member representation in 60 countries, is focusing on Bangalore as a regional potential business hub. As said by Farook Mahmood vice president of World Council of Brokers elected to FIABCI's "Business houses in the West are looking at emerging markets for opportunities. India scores high on this front with its talent pool, domestic consumption and potential for IT-related development". Bangalore also holds potential in the areas of BPO's, Telecom, Finance, Infrastructure and retail from a property development perspective as well. FIABCI is a platform that brings together all verticals in the property sector to facilitate real estate transactions across the board. It is possible for business houses based abroad to source and evaluate commercial and residential spaces while seeking a base in the region.
Property is a safe investment avenue here given the dynamics of population and demand. The rapid urbanization across the country and consequent demand for spaces are keeping the property prices on an uptrend. In times of a global slowdown, only property as an asset class has yielded significant returns in India.
Author Resource:
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