In comparison to the previous year, the number of homes sold in Hyderabad nearly tripled in 2021. The city estimated 25,400 homes were sold in 2021, a 197% year-over-year increase over 2020. Sales increased as a result of lower home loan rates, discounts offered by developers, and the rising preference for homeownership following the pandemic. The city saw approximately According to the most recent Asset Hub report, 13,140 units were sold, representing the highest sales growth of 199% among all top 7 cities over the corresponding period in 2021. The housing inventory overhang decreased from 53 months in Q1 2021 due to robust sales to approximately 27 months in Q1 2022, a significant decrease of 26 months. Nevertheless, despite a 5% increase in average property prices among the top seven cities—from Rs 4,240 per square foot—the city continues to be the most affordable residential market. in Q1 2021, approximately Rs 4,450 per square foot according to the report, in Q1 2022. In terms of new residential supply, Hyderabad saw a record number of launches in 2021, 234% more than the regular annual supply in the past. With a 24% share among the top seven cities, Hyderabad came in second only to MMR regarding new launches. 21,500 new units were introduced in Q1 2022, an increase of 41% over Q4 2021 and 71% over Q1 2021.
In the first quarter of 2022, West Hyderabad was the primary contributor to the new supply, contributing 60% of the city’s new collection. North Hyderabad came in second with approximately 32% of all new launches in the city. Only 5% of the new homes built in Hyderabad were in the East and South areas. More than half of the new products (about 51 percent of homes were in the high-end category priced between Rs 80 lakh and INR 1.5 crore, followed by 29 percent in the middle category (Rs 40 lakh to Rs 80 lakh) and 11 percent in the luxury housing category (Rs 1.5 crore to Rs 2.5 crore). In the first quarter of 2022, the ultra-luxury segment (Rs 2.5 cr) and the affordable housing segment (Rs 40 cr) combined accounted for less than 10% of Hyderabad’s new launches.
