Why Rents Are So High In Bangalore?

I moved to Bangalore last month and was trying to find a rental house. After searching for around 3 weeks, I concluded that the rent in Bangalore is so high. While talking to a colleague, I asked him why rent is so high in Bangalore. My colleague has been staying in Bangalore for the last 4 years and here is what he told me. 

Why Rent is So High in Bangalore India?

My colleague told me about a few reasons the prices are so high in Bangalore and those are.

Growing Demand

He said Bangalore is experiencing a population spike over the last few years. One of the major reasons is Bangalore being a major IT hub in India. This spike in population has created a higher demand for housing, thus growth in rental prices. 

Limited Supply

Despite there being a spike in population, the supply of housing in Bangalore is low. This scarcity has led to rental prices increasing in the city. 

Lifestyle and Amenities

Bangalore offers a dynamic lifestyle besides so many employment opportunities. This has made the city a sought-after destination for both students and professionals alike. Thus driving up the demand for rental properties. 

And that’s about it. These are some reasons rent in Bangalore is so high. Hope this helps. 

One of my friends, Sarthak shifted to Bangalore for his new job. He was looking for a rented house in Bangalore. However, he was quite surprised to witness such an escalated rent in Bangalore. Hence, he asked, ”Why rents are so high in Bangalore">Check out NoBroker Rent Agreement Services for a legally valid rent agreement Looking to rent the property of your dreams ​​Explore NoBroker’s Tenant plans  Find rent estimate of the property in any part of Bangalore here

In addition, Bangalore being the Silicon Valley of India, there is a proliferation of tech parks which has, in turn, increased the demand for housing. Rent in Bangalore are so high as a result of a lack of newly built homes and rising housing demand.

Also, in IT hubs like Bangalore, urbanisation has accelerated during the last two years. Students who completed their degrees during the two years of Covid entered the labour market and began working, albeit from home. During COVID as there was ongoing work from home, employees moved back to their home town. Nevertheless, after COVID most offices started calling their employees to start working from the office.

When they returned, many home buyers reported that rent in Bangalore is high in exorbitant way. The cost of the same apartments they previously stayed in before the pandemic has increased by 80% to 85%. Additionally, there aren't many possibilities, making it difficult to find a property in Bengaluru that is reasonable.

Due to the pandemic, several construction projects in the city have been delayed. In the city, there aren't enough houses and apartments for rent. Owners have responded by raising the rental rates, primarily in gated areas.

I’d like to conclude here as I believe this suffices your query,  ”Why rents are so high in Bangalore?” I hope this helps:)

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