Bangalore has always been the city that has surprised with great trends. The trends of the city changes with each moment. But, what about the trends when it comes to the real estate industry? Let's analyse some of the rising trends in the city.
More buyers oriented approaches:
It is not just about profits that builders are concerned these days. Time has come when they have maximised the priority for customer satisfaction than anything. They are either ready to allure the clients by giving massive discounts on amenities or pre-booking. Also, the customers are provided with free services like maintenance, cleaning and so on for a year or two. Higher the competition, the more are the benefits for the end user. The same rule applies her too.
The real estate demand is not only increasing but also higher at the moment. A positive growth in demand is the backbone of any industry. We witnessed the collapse of the real estate industry during the post-demonitisation period. But, things have changed a lot from them, thanks to the fair economic policies both at the state and central level. In a fast-pacing city like Bangalore, there seems to be no decline in the real estate demands.
Expansion to the outskirts
There was a time when people used to flock to the hotspots of the city and settle there. But the recent trends show that people are more interested in securing a good plot or a residence in the residence. The factors that can be accounted to this include the expanding road and rail connectivity as well as the city’s lifeline transport system, the metro. Realty analysts predict that the demand for real estate in the outskirts of the city is expected to increase at the current rate. New satellite towns may emerge more faster than expected.
Better return on investments has invited more players into the field, especially young players. More players mean more competition. Competition is always inevitable in a market as long as it remains fair and the competitors don’t bleed. From the current statistics, we can confidently assert that it is for the good of the players as well as the customers in the playground.
The industry has been witnessing greener approaches in almost all recent initiatives. An uproar for a greener approach has been rising in the city for almost a decade or more. Predictions such as the city may turn out to be a concrete city on the day had made the masses alert. It is worthwhile to note that the clients are demanding more of greener initiatives.