The Pandemic has made a huge impact on the world. From villages to big cities, everyone got hit by the Covid wave.
Bangalore, A Metropolitan City, has a population of around 84 million. It is known as the Silicon Valley of India.
It has around 1.5 million IT employees as well. But, during Covid, most of the companies have given work from home. It has caused a huge exodus of people going back to their native places.
Bangalore’s economy is driven by real estate. But the huge migration of employees has shifted the real estate paradigm.
Lacs of flats have gone vacant. And now, you can see the ‘To Let’ boards everywhere. As per the experts, this might cause a real estate crash in the city.
Rent has come down and prices of apartments are also decreasing. There is a shortage of labourers as well which has brought building constructions to a halt.
If we look at the flip side, there is also an optimistic side of it. As the price is dipping, this could be a good time to invest. If you are thinking of buying a flat, there is a huge room for negotiation.
Let’s cross our fingers because nobody knows what the future really holds for us!