Top Reasons to Invest in Apartments in Electronic City, Bangalore
As the world has started coming back to normal after the pandemic, India’s real estate sector has started showing signs of massive growth. According to studies, by 2030, this segment is predicted to reach a valuation of Rs. 8.25 lakh crore and contribute almost 7-8% to the country’s GDP growth.
Furthermore, there is an increasing trend among individuals to buy their own homes, which serves as a major factor behind this sector’s growth. As per reports, there is going to be a 10-15% rise in demand for residential real estate in Tier-1 cities like Bangalore. So, for prospective investors, purchasing upcoming projects in Bangalore might actually be a very good idea. In case you are on the lookout for apartments in Electronic City, keep reading this blog. You will get to know why you are on the right track.
Reasons for Investing in Property in 2023
Here are some of the potential reasons for investing in Bangalore’s residential real estate:
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Changing Trends Among Home Buyers
Given the changing lifestyle of millennials, there has been a rising trend among them to own houses of their own. People nowadays want more space in their flats to comfortably work from home. Additionally, homebuyers want to purchase property which will have all the modern-day amenities like swimming pools, gyms, parks, etc.
This change in consumer behaviour has given rise to several apartments in Electronic City which showcase world-class features. Therefore, you can consider investing in upcoming projects to profit from them in future.
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Appreciating Property Values
Property is a kind of asset, the value of which tends to appreciate in the long run. As per reports, the residential real estate sector in the top 14 Indian cities saw 7% price growth year-over-year between January to March 2023. This appreciation in value can be attributed to several factors like developing infrastructure, industry-friendly policies, the launch of several housing projects, etc.
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Increase in Demand for Luxury Housing Units
Apart from having just a place to live in, people desire a lot more from their homes. They want to live in apartments which are located in exclusive areas, have ample greenery, open space and the latest technological innovations, which will give them a premium living experience. Thus, you can invest in upcoming projects in Bangalore that belong to the luxury segment in order to take advantage of this demand.
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Passive Income Through Rent
Putting your property on rent is one of the best ways to get high ROI. In Tier-1 cities like Bangalore, there is always a high demand for rental residential properties. The city’s expanding IT sector acts as a driving factor in this regard, which attracts youth from all over India. Additionally, it is an excellent way to fight the effects of inflation. This is because, with the increase in commodity prices, your rental income also grows, thus creating a hedge.
