How easy it is to sell a 10 year old Apartment in Bangalore?
Most people including me want to own a home in Bangalore. Usually we like to go for a new Apartment. My question is suppose you want to sell your apartment later in life( Moving Abroad, settling in a village for retirement). How easy or tough is it to sell an Apartment in Bangalore? Usually people say that Real Estate is an Appreciating asset, although rental yields are relatively low. Do share your experiences.
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Most of the properties that are selling we'll are from tier1/2 builders and are actually around 10 years old. The entry price is going to be a big factor of returns. The returns on property right now in Bangalore will be >10% cagr (including rental yield) for properties greater than 10 years.
There is over supply. No one will be interested to buy a 10 year old apartment in Bangalore unless he is dumb.
Check out Ivyhomes, which helps you resell homes in a short period.
Thought of it for while and pursued too but many are demanding 20-25% premium to the market price. Making it expensive proposition for a old building.
Where the premium is less there are hidden issue which you will discover over time.