Bangaloreans looking to buy property can expect prices to increase in the coming four months, a survey by Indian Institute of Management's Century Real Estate Research Initiative (CRERI) has revealed.
The report looks at measuring the sentiments of real estate purchasers across the country.
Not surprisingly, this sentiment in Bangalore runs contrary to the other cities surveyed where consumers expect prices to fall. Other reports have shown an increase in purchases in 2013 with around 28,000 new units being launched in the first six months of the year.
The research also notes that the effect of the RBI's recent measures to unwind liquidity tightening has had a negligible effect on home loan rates.
It predicts that government efforts to ease Foreign Direct Investment norms in real estate sector would help attract cash flows.
"Bangalore is the only city with a marginally positive sentiment which is due to steady demand from the IT sector and the fact that developers have been conscious not to increase prices," the report states.
The findings also show that most prospective home buyers in the country are between 25 to 39 years of age but again the city beats the trend as it has the most number of older buyers.
According to CRERI, North and North east areas of the city are the most positive in terms of consumer sentiment.
South Bangalore is a close third. Customers in Bangalore also exhibit positive sentiment irrespective of the type of property they are buying.
The report is based on surveys of over 3000 buyers which will be surveyed every quarter.
Eight cities were covered in the survey including Mumbai, Delhi, Hyderabad, Pune, Noida, Gurgaon, Bangalore and Chennai. Online portal Magicbricks.com also contributed to the report.