Hyderabad National Telangana

Hyderabad sees instant jump in housing sales.

HYDERABAD: Houses in Hyderabad seem to be selling like hot cakes. According to a latest market report, the city sold 6,735 homes between July and September (Q3) alone — a 300% jump over the same period last year — to make its way to the top of the charts, nationally. Even in its supply of new properties, Hyderabad beat most others to stand only behind the Mumbai Metropolitan Region (MMR), with as many as 14,700 new homes hitting the market in the last three months.
Similarly, Bengaluru saw just about 7,640 houses being launched during the last quarter, as per Anarock Property Consultant’s recent housing sector analysis.
“Hyderabad has been one of the most vibrant real estate markets among all top cities both in terms of new launches and housing sales. It is seeing renewed interest by all stakeholders including investors, homebuyers and developers,” said Anuj Puri, chairman of Anarock Group. He attributed tremendous move in the local market to multiple reasons: Favourable socio-economic conditions, well-developed infrastructure and relatively affordable prices.
While the Rs 40 lakh to Rs 1.5 crore segment reported maximum buying in Hyderabad — the city’s revised definition of ‘budget’ homes, interestingly, comprise those priced between Rs 80 lakh and Rs 1 crore —affordable and luxury properties too found some takers, the report shows.
And much like other major cities, the IT/ITeS sector continues to drive the bulk of housing demand even in Hyderabad.
“The improved job security and robust hiring in the IT/ITeS and financial sectors piggybacked on record-low home loan rates and growing home-ownership sentiment. The ongoing work-from-home culture continues to influence residential sentiment on two major fronts – overall housing demand and unit sizes. The fast-paced vaccination drive is an added sentiment booster, especially in terms of increased site visits,” Puri added.

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