The success story of the city’s real estate industry continues to move quickly, unaffected by any external factors and demonstrates remarkable resilience.
Hyderabad: The Hyderabad real estate market exited an eventful 2022 with a sense of buoyancy and entered the new year with a more confident and optimistic outlook.
The success story of the city’s real estate industry continues to move quickly, unaffected by any external factors and demonstrates remarkable resilience. New areas along the suburbs and beyond have begun to exhibit more promise for development, despite the fact that the popular residential markets continue to expand rapidly without showing any signs of exhaustion.
Prospective property buyers continue to be active, expressing keen interest not only in the established property zones but also in the new and emerging ones, proving the positive vibe of the Hyderabad residential market.
The city real estate success story has unquestionably revolved around the west zone. It has enchanted not only homebuyers in the area, but also young investors from all over the country, drawing them under its spell. Because of its appeal, even members of the non-resident Indian community—not just from Telangana but also from other States—continue to investigate the possibility of investing in and purchasing property in the western areas of the city.
It says that in H2 2022, the residential market in Hyderabad sold 16,353 units, a 32 percent increase over the same time last year. The number of launches overall during the six months increased by 18% to 22,491. And the fact that 61% of these units were introduced in the west of Hyderabad!
According to Knight Frank, when it comes to the share of micro markets, purchasers preferred to be close to the city’s commercial core and office centers, Hitec City, Gachibowli, and Nanakramguda, so West Hyderabad accounted for 62% of all sales in H2 2022.
Simultaneously, North Hyderabad likewise saw negligible development in the portion of absolute deals from 18% during July-December 2021 to 19 percent during a similar period in 2022.
Surprisingly, the city has options to suit every need and budget. The mid-segment of homes priced between Rs 50 lakh and Rs 1 crore accounted for 45% of Hyderabad’s housing market in the second half of 2022.