Experts say Bengaluru is now a sellers' market where landlords are scrambling to sell their properties at high prices, while tenants are left looking for apartments in a market where rentals have jumped by 20-30 percent, and even 40 percent in prime areas.
According to market insiders, rentals in the residential market between Dahisar and Andheri have increased between 10-20 percent, more than in the rest of Mumbai.
The short answer is that it makes economic sense even as they maintain a lifestyle that is expected of them
Demand for rented accommodation by expats is exceeding supply. Brokers say monthly rentals have gone up to Rs 15 lakh.
With a severe mismatch in demand and supply of rental stock, brokers have started allotting slots for apartment tours and even accommodating prospective tenants in co-living temporarily until they find a home for them
The mass layoffs by tech companies have made landlords in Bengaluru jittery about taking on tenants from the IT and startup sector. Employees of such companies are struggling to cope with the ever-changing demands of the landlords.
Experts say global cities are taking on doughnut shapes, with city centres thinning out. The impact of traffic on real estate – depreciating property capital values and soaring rents – can be seen in the shifting choices of people.