Middle Income Group - Bangalore Real Estate Driven Market

Bangalore : The Bangalore Real estate market has seen several ups and downs in the past few years. Due to the Irrespective of the market condition India's residential real estate market remains to be critical. Due to the downfall, the demand of housing does not meet absorption. The middle Income group those who is mainly depends on home loans they highlighted the price sensitivity factor.

Middle income group individuals in Bangalore are waiting for reduction of home prices and hence the constructors have surplus inventory of the ready to move in units. Bangalore Real estate target Middle Income Group and the High net worth individuals have used this as a great opportunity to buy these units at extensive discounts and the constructors are forced to do so as the demand is poor.

The Real estate developers are emerging a new trend in the last few years that they were reducing the apartment sizes and making it as affordable for the middle income group individuals.

This Middle income segment is mainly driven by people who are working in IT and ITES industries. The major driving factor of this is social infrastructure, easy access to all facilities and proximity to office places. With regard to these factors the micro markets such as Electronic city, ORR IT Corridor, Whitefield and few areas in North Bangalore have witnessed a continuous steady demand from mid income segment in 2014. South Bangalore is also expected to see a healthy level owing to IT or ITES with infrastructure. Mainly, Whitefield in the east will continue to attract the buyers with its amenities, infrastructure and owing to its easy proximity to work place centers.

The real estate market segment is being seen as a middle group driven market. This surely makes it very affordable. The Bangalore city had seen that 35,500 residential units launched during the year 2012 and 8,000 units in Q1 2013. Moreover, South Bangalore witnessed the high number of new launches in the year 2012 and these are scheduled to complete in year 2015.