In Q1 2022, Greater Hyderabad saw 18,461 home sales registrations
There had been an annual seven percent increase in property prices in Hyderabad. In a report by Telangana Today, the average rate of prime residential real estate in Hyderabad is the second most expensive in India.
Despite a decline in home sales, the price increase in Hyderabad remained. While new supply surged by 92 percent in Q1 2022 compared to Q1 2021, residential sales in the city fell by 15 percent. Sales, on the other hand, increased by 53 percent quarter-on-quarter (q-o-q).
In Q1 2022, Greater Hyderabad saw 18,461 home sales registrations, down 19 percent from the same period last year.
Residential property registrations in Hyderabad reached 5,707 units as of March 2022, which was a five percent increase month-on-month (m-o-m) over February 2022. Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy are the four districts that make up the Hyderabad residential market.
Meanwhile, rental property in Hyderabad is steadily recovering as companies start to ask their employees to go back to the office, according to The New Indian Express. Schools and colleges have also reopened and driving rental demand to pre-COVID levels.
Tenants have also been looking for properties with more carpet area to cope with the hybrid work model, which has resulted in a major increase in demand for larger houses.
The influx in mid- and high-ticket-size segment market shares reflects the share of sales in various unit size ranges. In March 2022, sales of units more than 1,000 sq ft accounted for around 81 percent of total home sales registrations. Homes ranging in size from 1,000 to 2,000 sq ft are the most common accounting accounted for 73 percent of all sales throughout the time period. The trend of homebuyers moving into larger homes continued in March 2022 as well.
The recovery can be attributed to the city’s aggressive immunisation, which has vaccinated more than a billion people.
Rental flats and houses in areas such as Gachibowli, Kondapur, Kukatpally, Manikonda, and Miyapur.
The Property Report editors wrote this article. For more information, email: [email protected].
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