IT/ITES segment accounts for approximately 75% of Bangalore's residential real estate market. Nearly 80% of inmates (mostly young single working adults) returned to their hometowns to save on rent during the first wave. A deadly second wave has created new vacancies in these buildings. In the Indian rental housing market, especially in IT-driven cities like Bangalore, after the second wave, multifamily vacancies increased and rents fell as companies expanded the option to “work from anywhere.”
Capitalizing on the surge in IT salaries, the real estate firms are seen to be positive about banks. Demand for residential property in Bangalore is at an all-time high, driven by increased employment by infotech and start-ups along with hefty pay raises. As the pandemic effect is easing out, the Bangalore rental housing market is witnessing a recovery.
Factors affecting Real Estate Market Growth
The size and scope of the real estate market make it a lucrative sector for many investors. The housing market is subject to changes in economic conditions, interest rates, real incomes and population density. The factors that play important role in real estate market growth –
- Many factors affect property prices, availability, and investment potential.
- Demographic data provides information about the age, income, and local preferences of actual or potential buyers. Then, what percentage of buyers are retirees, and what percentage of potential buyers are eligible to purchase a vacation or second home?
- Interest rates affect property prices and demand. Low-interest rates bring in more buyers because mortgages cost less, but that also increases demand for real estate and pushes the prices higher.
- Government policies and laws, such as tax incentives, deductions, and subsidies, can stimulate or deter demand for real estate.
With the easing out of the pandemic effect, the companies and large corporations have started working directly from their offices and the employees are coming back to Bangalore. It has helped Bangalore housing rental market to surge. The people are searching for suitable 2BHK for rent Bangalore & 3BHK for rent Bangalore. Now rental housing market prices have witnessed almost 10% growth in 2022.
Therefore, Property Management and Rental Company’s role has become important to provide affordable rental houses to the people in need. SANGAU is a top-rated Property Management and Rental company offering comprehensive 2BHK for rent Bangalore & 3BHK for rent Bangalore support services. The company offers two plans – BASIC and PREMIUM. The company is committed to delivering smooth and effective property management services whether they are apartments or villas within Bangalore. All properties managed by SANGAU are verified and tenants are always renting properties from the company. Tenants can choose from a large portfolio of semi-furnished or fully-furnished homes for rent in Bangalore. The features of its service include-
- Fully transparent, clear and secure rental process
- Excellent property management at affordable prices
Our goal is not only to work with property owners to take care of their homes but also to provide services that enable both landlords and renters to enter the rental market without stress, anxiety, and worry. Check complete details on the website. sangau.com
