Bangalore South, most in demand

Bangalore South, most in demand

Bangalore South, most in demand

To gauge the real estate trends that will be prevalent this year, Makaan.com, online real estate website by People Group, conducted a nationwide survey 'Realty Trends 2010' for Metros and tier II cities of India.

As per the survey findings, Bangalore, after Delhi and property in Mumbai, is considered as the third most preferred real estate investment destination in 2010, nationally.

Eleven per cent of the national property seekers want to own a house in the city. Delhi tops the charts with 34 per cent. Mumbai follows the capital with 28 per cent interested buyers nationally; and Hyderabad has attracted 11 per cent property seekers.

The survey also reveals that the realty sector in 2010 is going to be driven by the end user. Due to recession and fluctuating property prices, property seekers were shying away from making a purchase last year, but with improving economy and slightly stable property prices, seekers are ready to jump into the market this year.

It's interesting to know that most of those interested in buying a house, this year, want it for self-consumption; this confirms the fact that speculators, which drove the real estate boom in 2004-07, are more or less out of the market. And even the ones who are willing to invest at this time are the long-term investors.

•67 per cent of the national property seekers want to buy a house for self-consumption.

•Only 23 per cent national seekers are looking for property options from a long-term investment perspective.

•Short-term investment has only 10 per cent takers.

When it comes to Bangalore, the trend is in line with the national findings, with 64 per cent of the property seekers from the city wanting to buy a house for self-consumption. On the other hand 26 per cent buyers from Bangalore, who want to buy a house this year, are only looking it from a long-term perspective. Only 10 per cent of survey takers from Bangalore want to invest for the short term.

Last Updated: Tue Aug 13 2013

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