The World Bank is alarming the globe due to the economic slowdown caused by COVID-19. The real estate market will face a heavy impact, and certainly, there will be pressure for both commercial and residential properties.
India, however, is a different story altogether. The Indian real estate market has unlocked a fresh inventory of residential and commercial units. The housing market is stable after the back-to-back waves causing the pandemic. In addition, the market is witnessing ever-increasing demand and the launch of new projects by renowned and new developers. Cities like Bangalore are showing promising investment avenues.
Bangalore city’s Central Business District (CBD) areas have been witnessing skyrocketing residential rentals, and land parcels are selling at an exponential rate.
In addition, Indian Director, Dr Rema Ramchandran, International Women’s Federation of Commerce and Industry, stated that “NRIs looking for ROI (Return on Investment), capital appreciation and exclusive cluster amenities inside and community amenities in nearby locations such as educational institutions, healthcare facilities, business parks, corporate hubs, and other entertainment facilities.” However, the flood-prone areas are witnessing a slowdown, and the NRI investor is not that interested in such properties even if they fit their preferences.
The real estate developer and investors have stated that the rapid growth of the micro real estate market in Bangalore hasn’t only put the development on the fast track but also drawn NRI investment in Bangalore’s real estate market.
