IT HIRING BOOSTS THE REAL ESTATE MARKET IN BANGALORE

The current situation of the ongoing pandemic has changed lives in so many ways in every aspect be it professional or personal. People have adapted to a new way of life that they didn’t know even existed and so have the companies they work for. The last year and a half have taught us so many things one of which is how to maintain a balance between personal and professional lives. Despite thrashing the businesses and shuttering the jobs have put financial strains that are faced by the companies, the revenues have increased and so have the job postings.

It’s worth noting that any other sector might be facing some troubles but not the IT sector they have grown and emerged victorious and have increased their efficiencies of working. The entire concept of work from home has given different opportunities to the companies and their employees and has therefore increased the job employment opportunities too. According to a report, the job postings by various companies have increased by 6% in the last year and a half.

IT HIRING’S AND REAL ESTATE

It’s not just the IT sector that’s booming, some others have had their share of opportunities too. One is the real estate sector especially in and around the IT hubs present in the country. Cities like Pune, Hyderabad, Chennai, and of course Bangalore have seen tremendous growth in the recruitment activities of various companies. Bangalore turned out at the highest spot and recorded the highest ever recruitment activity with a 50% rate.

With such high opportunities being offered people want to make the most of it and so are finding out ways and means to spend more time at home and build a professional career too. Even after the second wave of Covid, real state stocks have been buzzing and people are finding various means of emerging out in these tough times. The BSE realty index has increased by up to 10% in the past five sessions and almost by 35% in the last year. The low-interest rates are supported by the government are some of the major reasons why the market is seeing such an upsurge. Some other factors which are playing a major role in triggering the real state stocks are hiring the increase in the salary of employees and the unlocking theme.

While some sectors may have been facing some problems IT sector has been growing and with such growth momentum, it’s creating lots of opportunities and new jobs in the economy. The salary levels up also raised the whole concept of work from home, has grown tremendously, and has been helping with the turnaround in the residential space. The analyst also believes that this might just be the start and there’s a lot to come in the real estate sector after almost a decade of underperformance. India’s property market is suddenly gaining or you can say rebounding from a bad phase after it was being hit by a lot of uncertain activities like the pandemic, the bad-loan crisis, and of course demonetization which hurt the demand for new houses and apartments.

This entire culture of being at home and working has given up a new opportunity to all the people and therefore they are willing to spend a lot more on their apartments and villas because they are also their place of working. This significant increase might also help to boost the economy of the country and hopefully it will continue to do so shortly.

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