Bengaluru, known for its IT industry and pleasant climate, is now facing rising property prices.

The city's housing market is expanding quickly. This has made it difficult for many middle-class families to afford homes.

Why are property prices rising?

The city is growing as more tech professionals are moving to Bengaluru. There is also an increasing demand for premium housing.

Areas like Whitefield, Sarjapur Road, and North Bengaluru are particularly popular for 2BHK and 3BHK apartments. However, there are not enough homes to meet the demand.

NRIs Driving the Price Increase

Non-Resident Indians (NRIs) are also contributing to the price rise. They have strong earnings from abroad, and with the ability to work remotely, many NRIs are investing in Bengaluru's real estate.

This makes the city more attractive to investors, alongside other cities like Mumbai and Pune.

The Cost of Owning a Home

A 3BHK flat in Bengaluru now costs between ₹90 lakh and ₹2 crore. This sharp rise in prices has made homeownership unaffordable for many families.

Buying a home in Bengaluru is getting harder. There are more people wanting homes than there are available. Many can’t afford to buy in their own city. As Bengaluru grows, property prices will keep rising. This makes it harder for many to own a home.

With inputs from Construction World.