A pandemic, subsequent lockdown, and a nation wide housing recession due to supply chain restrictions have not deterred the real estate market in the City of Pearls.
Hyderabad Real Estate Consultant
Hyderabad has continued to see new launches and improved sales momentum in the post-Covid world, with launches hitting a new all-time high in 2021 compared to Hyderabad's historical average annual supply.
Hyderabad Real Estate, 2021 home sales nearly tripled year-on-year with 51,500 units released, nearly 234% above average pre-COVID-19 annual listings. The report also mentions that the city remains the cheapest housing market among the seven largest cities at around Rs 4,450 per square foot.
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Increase sales:
Lower home prices, developer rebates and the rising post-pandemic homeownership trend have helped boost sales with around 25,400 homes sold in 2021, a 197% growth from 2020. In the first quarter of 2022, i.e. until March, the city recorded around 13,140 houses. units sold and recorded the highest sales growth of 199% among the seven major cities in the corresponding period in 2021.
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They dominate the West and the North:
West Hyderabad was the largest contributor to the city's new launches with 60% of new supply in the first quarter of 2022, and North Hyderabad ranked second, contributing 32% to the city's new launches. According to the report, East and South Hyderabad together accounted for 5% of newly introduced housing units.
The high-end segment is growing:
More than half of the new launches, around 51%, were in the premium segment, priced between Rs 80,000 and Rs 1.5 crore, followed by 29% in the mid-range segment, priced between Rs 40,000 and Rs 80,000, and 11% in the consumer segment Luxury accommodation (Rs 1.5 crore to Rs 2.5 crore).
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