Wealthy foreign buyers to boost bangalore property demand

Wealthy buyers from overseas are set to boost Bangalore property demand, according to Jones Lang Lasalle. The firm predicts that the Indian city will grow steadily this year, thanks to interest from Non-Resident buyers and High Net-Worth Individuals.

“Bangalore has been the fastest growing city of India over the past few decades. Bangalore is also the third-largest real estate investment hub for High Net worth Individuals and tops the list in terms of investments from Non Resident Indians looking at settling down in India in the future," says Sanjay Chugh, Head of Residential Services (Bangalore & Chennai) at Jones Lang Lasalle India (quoted by OPP).

"The city attracts a sizeable population due to its cosmopolitan culture. Home to over 10,000 individual dollar millionaires, Bangalore has a large base of expatriates living and employed in the city.”

Rents and property prices are expected to remain stable in the first half of 2014 and grow in the second half.