Insights: Bengaluru's Dominance in Hiring and Real Estate
Bengaluru stands as a dominant force in the hiring landscape, particularly in key sectors.
Bengaluru leads with 37.58% of junior, 43.61% of middle, and 50.5% of senior level hiring..
The southern metro accounts for 37.94% of junior, 42.1% of middle, and 46.6% of senior level job creation.
Anticipated 8.3% growth in overall hiring in 2024, with Bengaluru expecting an 11% surge.
Bengaluru ranks as a top real estate market in the Asia-Pacific region. Residential market in Bengaluru anticipated to increase by 5% yearly, the second-best among 24 markets.
Demand for flexible offices has risen from 14% in Q1 2019 to 27% in Q1 2023. Bengaluru and Delhi-NCR lead, accounting for 66% of net coworking absorption in Q1 2023.
Bengaluru offers attractive rental yields between 5-7%, making it a desirable location for real estate investors. Business Insider India predicts a 12% increase in property prices in Bengaluru in 2024. Outlook India forecasts a 15–25% increase in new property launches in India's residential real estate market in 2024. RBI data reveals significant growth in the house price index and a 21.6% increase in house sales during Q4 2022-23.
Bengaluru, a city that commands the hiring landscape, emerges as a beacon of opportunity and a thriving real estate hub. Leading in manufacturing and FMCG job creation, the city anticipates an impressive 11% hiring surge in 2024. In the real estate realm, Bengaluru's annual 5% growth, coupled with a surge in coworking spaces, positions it at the forefront. With attractive rental yields, a predicted 12% property price increase in 2024, and robust sectoral growth, Bengaluru beckons professionals, investors, and homeowners alike.
