Bangalore realty market attracts HNIs

BANGALORE: The residential real estate market in Bangalore has emerged as an attractive investment proposition, with high net worth individuals attracted by the city's stable demand outlook and attractive pricing, mention a recent report by CBRE.

“Around 30% of the total real estate demand in Bangalore is investor driven while 70% is end users,” says J C Sharma vice chairman and MD of Sobha Developers.

The growing demand for home upward of Rs 1.5 crore has led to increase in launches of new properties in the premium segment. Some of the key luxury projects launched in 2011 included Nitesh Logos at MG Road, Four Seasons' CityView at Bellary Road, Sobha City at Thanisandra and Prestige Edwardian at Cunningham Road

“We have sold 100 units in last three months. There is a huge demand from people who now wants to upgrade to bigger house,” says Raj Menda MD RMZ Corp

However, property prices were largely stable for most part of the year, with growth witnessed in the last quarter only. “Capital values in and around the CBD appreciated by 12-15% y-o-y,” mentioned the report.