In Q1 2022, the Hyderabad housing market noticed near 13,140 models offered, registering the very best gross sales development of 199% amongst all prime 7 cities over the corresponding interval in 2021, in response to ANAROCK’s current report ‘Riding the Rebound: Hyderabad Real Estate.’
As per the peport, housing gross sales in Hyderabad touched almost threefold in 2021 as in comparison with the previous yr. Nearly 25,400 models have been offered in Hyderabad throughout 2021, witnessing an YoY development of 197% as in comparison with 2020. Lower dwelling mortgage charges, quite a few reductions supplied by builders and the rising inclination for homeownership submit pandemic have pushed gross sales up in Hyderabad.
Robust gross sales within the final one yr trimmed housing stock overhang from 53 months in Q1 2021 to approx. 27 months in Q1 2022 – a large 26-months decline. Average property costs in Hyderabad noticed most annual rise of 5% amongst prime cities – from INR 4,240 per sq. ft. in Q1 2021 to approx. INR 4,450 per sq. ft. in Q1 2022.
While town stays essentially the most inexpensive residential market among the many prime 7 cities at approx. INR 4,450 per sq. ft., it has ample scope for future development. In reality, inexpensive residential and business property charges are a main issue driving actual property exercise within the metropolis.
Commenting on the identical, Prashant Thakur, Sr. Director & Head, ANAROCK Research, mentioned, “Thanks to its property market’s multi-faceted accelerators, Hyderabad now draws interest from all stakeholders including investors, homebuyers, and developers. Its high-performing socio-economic dynamics, well-developed infrastructure, relatively affordable prices – and, not least of all, the slowdown on Amaravati’s real estate market – all work in its favour. Amaravati’s loss has been Hyderabad’s gain over the past 4-5 quarters.”
Notable knowledge developments:
- As per the ANAROCK report, Hyderabad noticed approx. 25,400 housing models offered in 2021 – a 197% Y-o-Y development over 2020. Lower dwelling mortgage charges, reductions by builders, and the rising post-pandemic inclination for homeownership helped increase gross sales.
- In Q1 2022, town noticed approx. 13,140 models offered, registering the very best gross sales development of 199% amongst all prime 7 cities over the corresponding interval in 2021.
- Hyderabad housing costs noticed the largest annual rise of 5% in common property costs among the many prime 7 cities – from INR 4,240 per sq. ft. in Q1 2021 to approx. INR 4,450 per sq. ft. in Q1 2022.
- In phrases of latest residential provide, Hyderabad noticed an all-time excessive of latest launches in 2021 – 234% larger than the common historic yearly provide.
- In Q1 2022, Hyderabad was second solely to MMR in new launches, accounting for a 24% share among the many prime 7 cities. Q1 2022 noticed 21,500 new models launched – a 41% development over This autumn 2021, and 71% rise over Q1 2021.
- West Hyderabad was the foremost new launches contributor in Q1 2022, accounting for 60% of town’s new provide. North Hyderabad got here second, contributing approx. 32% of town’s new launches. East and South Hyderabad collectively accounted for a mere 5% of latest residential models launched.
- More than half of the brand new launches (approx. 51%) have been within the high-end section priced b/w INR 80 lakh to INR 1.5 Cr, adopted by 29% within the mid-segment (INR 40 lakh – INR 80 lakh), and 11% within the luxurious housing section (INR 1.5 Cr – INR 2.5 Cr). The inexpensive housing (<INR 40 lakh) and ultra-luxury section (>INR 2.5 Cr) collectively accounted for lower than 10% of Hyderabad’s new launches in Q1 2022.
Source: www.financialexpress.com”