Is buying a home in Bengaluru worth it, or is renting the better option?
Bengaluru real estate: Soaring property prices and rents have made homeownership out of reach, forcing potential buyers to stay in expensive apartment rentals
Soaring property prices and rising rents in Bengaluru have made homeownership increasingly unaffordable, leaving many potential buyers stuck in costly apartment rentals. One buyer expressed regret over missing a chance in early 2023 when a friend was selling a 3BHK corner flat for ₹1.8 crore—now priced at ₹3 crore. For those grappling with the dilemma of buying now or continuing to rent, a Redditor suggests looking at properties on the city outskirts, where prices are relatively more affordable.
"In the last 2 years, my rent has doubled, and there are no 3BHKs for less than ₹3 crore. The high rent is squeezing me, and I cannot afford to buy at ₹3 crore," a user posted on the social media platform Reddit.
The user said he regrets an opportunity in early 2023, when a friend of his was selling a 3bhk corner flat and was quoting ₹1.8 crore.
Two years on, the story took a different turn—the same apartment type now commands nearly ₹3 crore, and the resident’s rent has almost doubled.
The rising cost of living, particularly in well-developed gated communities, has left many residents feeling the pinch. This trend mirrors a broader pattern in Bengaluru’s housing market, where rapid property appreciation, especially in high-demand areas, has left tenants struggling to keep pace. With limited new supply in established neighbourhoods and increased demand from professionals returning to the city, real estate values have surged in a short period.
This situation underscores the uncertainty many Bengaluru homebuyers face—balancing affordability, timing, and long-term planning in a volatile market. The fear of overpaying often leads to missed opportunities, especially in a city where property prices can double within a few years."
'Buy further away from city areas'
Another Redditor said that long-term renting often leads to bad financial decisions.
“Don’t fall for landlords here disguised as 12-year-olds saying stay on rent,” the user wrote. He suggested prospective buyers look for properties, especially in the outskirts of the city, where prices are relatively more affordable.
“Your peace of mind is priceless, and paying an EMI is not a sin. It’s for your own house,” the post said. The Redditor acknowledged the challenges of buying within city limits but emphasised that as the city expands and metro connectivity improves, buying further from the core areas could be a wise long-term decision.
