Bangalore may witness property price appreciation in 2014
With the introduction of Land Acquisition Bill and Real Estate regulatory Bill, the year 2013 has emerged as an eventful tenure for the Bangalore Realty Sector. Riding on the back of such developments, the year 2014 has fuelled high optimism and anticipations among the developers and investors. According to experts, a price appreciation in 2014 is on the cards, coupled with transparency and required stability in the property market.
With the advent of 2014, it is very crucial for the developers to gauge the mood of the property buyers and their preference. A firm government policy to promote affordable housing will lock on inclusive development. An optimistic IT segment and a good second half in 2013 are the two key aspects that is likely to herald in lucrative prospects for builders in 2014.
What will trigger the appreciation?
Labelled as a long-term investment market, the real estate sector of Bangalore boasts of healthy rental demand. In addition to it, consistent interest from investors of other metro cities is likely to trigger an appreciation of prices in mid 2014. According to property consultants, in 2014 more than 65% of the property investors will focus on apartments while 15% will be looking for residential plots for their home in Bangalore.
A sudden dip in interest rates is likely to boost the buyer’s sentiments and this may bring in good news for developers, with increased sales and property transactions. The IT segment that constitutes to a huge chunk of the buyer’s market in the city, has become more stable. This, together with shooting up of the US dollar value has chipped in huge confidence among the investors and has cast a positive impact on the property market.
Bangalore real estate in 2014 will rise and shine
The demand for commercial real estate sector in the city in 2014 will be strengthened by the FDI in multi-brand retail. Furthermore, the recent policy initiatives to expedite the business environment is expected to improve the realty sector in 2014 and jack up the prices.
According to market reports, areas that are likely witness huge growth in the next year include East, North and South Bangalore, preferably due to their accessibility to office locations. Excellent social and physical infrastructure and Metro connectivity will stand out as the economic magnets of the city that will fire up the prices in 2014 and take the real estate market of Bangalore to a whole new level.
