Trends of Real Estate Sector in 2023
Real estate trends in Bangalore in 2023 are expected to reflect buyers' and investors' evolving needs and preferences in the wake of the pandemic. The best trends to look for in the Bangalore real estate market in 2023:
Demand for Affordable Housing: The COVID-19 pandemic has led to a surge in demand for affordable housing as people look for comfortable and safe homes without breaking the bank. In Bangalore, developers are expected to focus on constructing more budget-friendly homes that cater to the needs of middle-income buyers.
Smart Homes: As technology continues to evolve and permeate every aspect of our lives, smart homes are becoming increasingly popular in Bangalore. Developers must incorporate advanced home automation systems, remote-controlled lighting, temperature control, and voice-activated assistants into their constructions.
Co-Living Spaces: Co-living spaces are becoming preferred for young professionals and students who want affordable, hassle-free housing in Bangalore. Developers are expected to capitalize on this trend by constructing more co-living spaces that offer fully furnished rooms, shared common areas, and high-speed internet connectivity.
Green Buildings: Bangalore has been at the forefront of the green building movement in India, which is expected to continue in 2023. Developers are expected to incorporate eco-friendly features such as solar panels, rainwater harvesting, and energy-efficient lighting into their constructions to reduce their carbon footprint and appeal to environmentally conscious buyers.
Unique Amenities: Properties located near cafes can offer unique amenities that cater to the needs and preferences of buyers or renters. For example, some properties may offer a private rooftop terrace or outdoor patio area with views of the nearby cafe, creating a unique and appealing feature.
Mixed-Use Developments: Bangalore is a rapidly growing city with a high population density, and mixed-use developments that combine residential, commercial, and retail spaces are expected to be in high demand in 2023. These developments offer convenience, accessibility, and a vibrant community living experience and are expected to be particularly attractive to young families and working professionals.
Investment in Commercial Real Estate: With the growing demand for office space, retail outlets, and commercial buildings in Bangalore, investors are expected to focus on commercial real estate in 2023. This trend will likely be driven by the rapid growth of the city's startups, e-commerce, and IT companies, which are expected to continue expanding and driving demand for commercial properties.
Real Estate Investment Trusts: REITs are becoming increasingly popular in India, which is expected to continue in Bangalore in 2023. It enables investors to invest in real estate without actually owning the property directly. This has led to a hick in the number of commercial properties being developed and greater liquidity in the market.
Focus on Amenities: With the pandemic highlighting the importance of health and wellness, developers are expected to incorporate amenities such as fitness centres, swimming pools, and outdoor recreation areas into their constructions. This will likely be particularly attractive to buyers who want to stay healthy and active while staying close to home.
Location-Neutral Offices: With remote work becoming increasingly popular, some companies opt for location-neutral offices that allow employees to work from anywhere. These offices offer a more flexible and collaborative work environment without needing a physical office.
Emphasis on Safety and Security: The pandemic has also heightened awareness of safety and security, and developers are expected to incorporate features such as contactless entry systems, CCTV cameras, and security guards into their constructions to ensure the safety of residents and visitors.
Sustainable and Eco-Friendly Properties: With growing awareness of climate change and environmental issues, developers are focusing on constructing sustainable and eco-friendly properties. This includes using renewable energy sources, incorporating green spaces and water conservation techniques, and reducing carbon emissions.
Work-From-Home-Friendly Properties: The pandemic has increased remote working, creating a demand for properties designed to support a work-from-home lifestyle. This includes properties that have dedicated workspace, high-speed internet connectivity, and soundproofing to minimize distractions.
Co-Living Spaces: Co-living spaces are popular with young professionals and students who want affordable, hassle-free housing. These spaces offer fully furnished rooms, shared common areas, and high-speed internet connectivity, making them an attractive option for renters living in a community environment.
VR and Augmented Reality: Virtual and augmented reality are increasingly used in the property sector to offer buyers a more immersive and interactive experience. This includes virtual property tours, allowing buyers to explore properties from their homes.
Focus on Health and Wellness: With the pandemic highlighting the importance of health and wellness, developers are incorporating amenities such as fitness centres, swimming pools, and outdoor recreation areas into their properties. This will likely be particularly attractive to buyers who want to stay healthy and active while staying close to home.
Rental Yield-Focused Investments: With low-interest rates, investors seek alternative investment opportunities that offer higher returns. This has led to a focus on rental yield-focused investments, which offer a steady stream of rental income and long-term capital appreciation.
Community Feel: A cafe nearby can create a sense of community and belong for residents. Cafes often serve as a social hub where neighbours can meet, interact, and form connections. This can appeal to buyers or renters who value a sense of community and a close-knit neighbourhood.
Convenience: With the fast-paced lifestyle that many people lead, convenience is a key consideration when choosing a property. Having a cafe nearby can make it easy for residents to grab a quick coffee or a meal without travelling far. This can save time and add to the overall convenience of living in the area.
Overall, the Bangalore real estate market in 2023 will likely be defined by affordability, sustainability, technology, and a focus on community living. Developers and investors who keep these trends in mind and adapt to changing needs and preferences will likely succeed in the dynamic and competitive Bangalore real estate market.
Prestige Park Grove
A contemporary and forward-thinking project is Prestige Park Grove. The Prestige Group is the maker. It requires a land size of roughly 80 acres. Apartments with one, two, or three bedrooms and three- and four-bedroom villas are available. It may be found in Whitefield. With a configuration ranging from 600 to 1800 square feet, Prestige Park Grove Master Plan epitomizes comfort. It guarantees that you will appreciate life in the modern world.
Prestige Primrose Hills
Prestige Primrose Hills is a gated residential enclave located off Kanakapura Road. Excellent apartments set in neatly placed 15 towers with 1 and 2 bedroom sets, these 1680 dwellings have variants in layouts, dimensions, and prices. Planned for bachelor living and small families, each dwelling is thoughtfully designed to offer maximum space, ventilation, and natural light, coupled with stunning architecture, specs, and interiors. Each tower is smartly spaced so that the residents from each home can get an unhindered view of the magnificent central court, a part of the sprawling 15-acre land parcel of this property. The abodes and the curated amenities and facilities are expected to offer a lavish lifestyle that will go beyond the expectations of the buyers - every aspect here will give that signature Prestige experience. The project is currently under construction; the starting price of this property is INR 38 lakhs, and the possession date is 31 December 2024.
The Prestige City
The Prestige City is an ambitious residential township in the very popular Sarjapur Road, East Bangalore. Laid in a humongous 180 acres and 12 million sq. ft. of development area, the smart city has assorted housing - 7000 apartments, 140 villas, and 808 plots. The apartments have 1, 2, and 3 bedroom sets of exquisite units, and the villas have 3 and 4 luxe bedroom sets; both have options in sizes, layouts, and prices with elegant architecture, specs, and interiors. It has been developed and sold out in phases. Every sub-project within the township has its own set of unique amenities, features, and facilities. The Prestige City had a home planned to suit the needs and fancies of most home buyers and is priced to suit every pocket.
Prestige Jindal City
Prestige Jindal City is another set of ready residences in Tumkur Main Road, Northwest Bangalore. Sprawling across a spread of 32 acres, there are 1, 2, 3, and 4 bedroom sets of marvellous 3,571 apartments in diverse layouts, configurations, and prices. Meticulously crafted architecture, specs, and interiors with spacious and well-utilised accommodations feature each residence here. World-class recreation, entertainment, fitness and amenities, and numerous facilities for all age groups are available, attracting many home-buyers. The starting price of Prestige Jindal City homes is INR 81 lakhs.
Prestige Roshanara
Prestige Roshanara is a plush residential complex developed by the Prestige Group. The pre-launch property is being developed on a vast acre of land which offers an unmatched living experience. Prestige Roshanara is a high-rise nestled in the lap of nature and breathtaking views that will please your senses. The property offers exquisitely designed 1, 2, and 3 bedroom dwellings that feature modern designs and bespoke interiors. Prestige Roshanara also offers world-class amenities like a swimming pool, gymnasium, clubhouse, yoga pavilion, dance and music, tennis court, indoor games room, mini theatre, jogging track, kids activity zone, and many more, which will refresh you instantly anytime.
Prestige Waterford
Another project of the Prestige company is Prestige Waterford. The Prestige Waterford project's futuristic design aims to give someone who wants a posh lifestyle a contemporary home. East of Bangalore Whitefield, at Prestige Waterford, which comprises 7 stunning towers and 689 roomy, well-built 3 and 4 BHK apartments spread across a sizable 16 acres of land, is located. Three-bedroom apartments start at Rs. 1.42 crores. This Prestige Group apartment building offers several benefits: a fantastic location, a pleasant and comfortable lifestyle, first-rate amenities, a safe environment, and high potential. On ECC Road in the heart of Whitefield in East Bangalore, an opulent pre-launch building known as Prestige Waterford is expertly built.
Prestige Willow Tree
Prestige Group is one of the leading names among the country'scountry's builders. They have been dominating the sector of new-age construction technologies, fulfilling a wide variety of residential properties, from apartments to villas. The Prestige Willow Tree in Vidyaranyapura, North Bangalore, is a beautifully designed project in Bangalore. Being located close to the International Airport, Prestige Willow Tree will also be a beautiful project to invest in. The residential project also has excellent amenities.
Prestige Meridian Park
Extremely abundant home development is called Prestige Meridian Park. It offers first-rate amenities. The prestige group is the one who created it. The 180-acre Prestige Meridian Park is vast. There are 2680 of them. Apartment-style residences with two, three, and four bedrooms have been thoughtfully created. The interiors of each flat are exquisite. These residences are really elegant. The tower is visible amid the vegetation. The lovely scenery can improve your lifestyle.
Prestige Eden Park
Furthermore, Prestige Eden Park is a stunning undertaking. The prestige group will soon begin work on this residential building. It can be found on Sarjapur Road. One of the city's most developed neighborhoods is this one. 9.7 acres make up its size. The apartments are roomy. Prestige Eden Park has a total of 2217 units. They provide the finest neighborhood and landscaped gardens. You will undoubtedly have a rich life experience thanks to it.
Prestige Kew Gardens
A high-end housing development is the exclusive Kew Gardens. It offers large flats. It is in the Bangalore suburb of Yemlur. 15.74 acres make up its whole area. The initial outlay is 40.17 lac rupees. In 2019, the units were completed.
Prestige Silver Sun
A completed condo is called Prestige Silver Sun. The Outer Ring Road, Sarjapur, and Marathahalli are all close by. This is in Bangalore's East. It is a 3 BHK apartment with a 2 BHK. It is a region with development. The area of the prestige silver sun is 1221–1949 square feet. The starting price for this apartment is Rs. 1.15 crore and beyond. Many amenities are available here, including a clubhouse, a gathering space, and swimming.
Prestige Sunny Side
Bangalore is situated on the Marathahalli-Sarjapur Outer Ring Road. The flat is ready for Sunny Side Prestige to move in. It occupies an area of 3.8 acres. 1370 to 2439 square feet are available in various sizes. At this location, the cost is Rs. 67.82 lacks. An apartment measuring 2439 square feet costs Rs. 1.21 crore. The amenities and infrastructure of Sunny Side Prestige are excellent.
Prestige Lakeside Habitat
Prestige Lakeside Habitat is another posh residential enclave on Whitefield-Sarjapur Road. Sprawling across a massive 102 acres, the project showcases a total of 3,697 unique and breathtaking dwellings, out of which there are 3,426 impressive apartments in 1, 2, 3, and 4 bedroom sets and 271 imposing villas with 3 and 4 bedroom sets in an array of configurations, layouts, and prices. This grandeur overlooks the pristine Varthur Lake, the periphery encapsulates 80 acres of open landscape, and each exquisite villa has private gardens. Each of the abodes is thoughtfully planned and designed, which offers the dwellers a fine living experience. The residents enjoy the perfect bliss: world-class architecture, specs, interiors, select recreational amenities, and other facilities. The starting price of the outstanding property is INR 95 lakhs, and the property is currently sold out.
Prestige White Meadows
One of the most well-known home builders is Prestige Group. The Prestige Group's best project is Prestige White Meadows. Prestige White Meadows in Whitefield comprises four structures and more than 60 villas and bungalows on one of the prettiest hills in the city. Due to its various amenities designed to international standards, Prestige White Meadows is one of the finest residences in Bangalore.
Prestige Aspen Greens
The stunning villa neighborhood known as Prestige Aspen Greens is situated in the city's biggest township, The Prestige City municipality. This collection of villas is part of the 180-acre Prestige City development and sits on a 20.3-acre block of land with numerous four-bedroom homes. Available space ranges from 3344 to 3612 square feet. There are around 149 apartments at Prestige Aspen Greens.
Prestige Serenity Shores
The prestigious real estate developer The Prestige Group's newest affluent, opulent residential expansion project is called Prestige Serenity Shores. This prestigious project is situated in Whitefield's up-and-coming, hip, and quickly growing neighborhood. This region used to be just a peaceful, frequently disregarded footloose town on the outskirts of the metropolis. The premium apartments in the residential complex range from 905 square feet to 2882 square feet and include 1, 2, 3, and 4 bedrooms. The homes are Vaastu-compliant, flawlessly ventilated, amply illuminated, and equipped with the best amenities and services. It is situated on 102 acres.
Prestige Lavender Fields
Prestige Lavender Fields is top-notch and luxurious among Trends of Real Estate Sector in 2023. In Whitefield, Bangalore, the Prestige Group has developed a futuristic residential Township called Prestige Lavender Fields. The development offers luxurious 1, 2, and 3 BHK apartments. The location spans numerous acres and is home to tall towers with opulent urban residences. The idea integrates luxurious outdoor space with contemporary conveniences. This concept is a passionate address for a wealthy life filled with elegant homes and luxurious pleasures. The apartments here are the epitome of exquisite craft. The apartments are carefully designed to maximize the usable space and create a spacious, breezy feel. Each house offers plenty of room and complete seclusion. The homes have adequate natural lighting and airflow. The apartments follow the fundamental Vaastu laws and logistics.
