News & Views on Indian Real Estate

Friday, October 17, 2008

Realty Demand Slows Down In Bangalore

As per a recent survey, there has been a slowdown in realty demand by 6% to 7% in Bangalore. Bangalore South is a preferred area for investment followed by Bangalore North and East. Together, these three account for 77 per cent of the demand from Bangalore. When taken as a percentage of total demand, there has been absolutely no variance in the demand within sub-cities, indicating that the property hotspots and the demand equation within different sub-cities had stabilized in the last few months. Another finding on the demand for properties on rent indicates the demand for rental properties is maximum in Bangalore South (33 per cent of total), followed by Bangalore East (29 per cent) and Bangalore North (17 per cent). The demand for residential properties on rent in Bangalore South is thrice the demand in Bangalore Central and twice the demand in Bangalore North. There has been a drop in the demand for rent in most of Bangalore sub-cities during the review period, ranging between 1-10 per cent.

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