Capital appreciation of residential properties: Bangalore is the choicest destination
The IT Capital Bangalore outperformed the national capital Delhi as well as the commercial capital Mumbai and gave property buyers the best capital value appreciation. Bangalore is the corporate head quarter of many IT and ITeS majors and since the earnings of these companies are in dollars, they outperform many players who are confined to the domestic arena.
Since the salaries in these IT and ITeS companies are quite high compared to the national average, the employees have a high disposable income. In the last one decade, youth from all the parts of India came to Bangalore and settled down here. The job market here was good and the options were multiple for anyone. The married professionals have double income with a good corpus to invest in luxury homes.
After the downturn years, however, it’s the IT-led cities of Bangalore and Pune that have surged ahead in capital appreciation in residential properties. International property consultants Cushman & Wakefield released a data recently which shows that Bangalore clocked the highest average capital appreciation in the mid-income housing segment.
This average capital appreciation was 41 % between the first six months of 2011 and the corresponding period this year. Pune followed with a 28 % growth. In the same period, Pune reported a 39 % growth in capital values for premium properties, the highest in the country in that market segment. Bangalore followed close behind with 37 %.
Source- The Times of India
Bangalore, Cushman & Wakefield, IT and ITeS companies, IT Capital Bangalore, mid-income housing segment, Property Consultants
