CityLab Daily: Rents Double as Workers Return to India’s Silicon Valley
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A pedestrian walks along a road in the Electronic City area of Bengaluru, India, in 2021.
Photographer: Dhiraj Singh/BloombergWhen Covid-19 reached Bangalore, known as India’s Silicon Valley, many tech workers left the city as global firms like Amazon and Google embraced remote work. Now, with the economy stirring back to life and companies pushing staff to come back into the office, those workers are returning to a hot rental market.
Rents in Bangalore have nearly doubled since the start of last year, as landlords charge higher rates to make up for lost revenue, and after the pandemic halted construction. In some cases, securing an apartment has become as competitive as getting a tech job — with property owners demanding resumes from prospective renters, Saritha Rai and Alex Gabriel Simon report. Today on CityLab: Rents Double in India’s Silicon Valley as Engineers Fight for Flats