Reports said Hyderabad had been one of the most vibrant real estate markets among all the top cities in terms of new launches and housing sales. The significant rise seen in the Hyderabad real estate market is favorable socio-economic conditions, well-developed infrastructures, and relatively affordable prices.
The real estate sector, which has seen a drastic downfall due to COVID-19, has started rebooting, with the residential property sales revive and gaining momentum in Q3. During the first and second quarters, the customers did not show interest in purchasing the homes due to COVID and hampered the residential property sale. Seeing other sectors and industries regain the market, the real estate sector has breathed a sigh of relief.
In Q3 2021, Hyderabad added 14,690 units, a yearly increase of 67% over Q3 2020. Over 78% of the new supply was in the Rs.40 lakh- Rs.1.5 crore price bracket. The rise in sale of properties is mostly driven by well-known localities of Hyderabad Sangareddy, Bachupally, Kompally and others. It has also been seen that the residential market of Hyderabad has performed extremely well in the first quarter of 2021 and has exceeded the Pre-Covid sales figures.
It has been reported that buyers in Hyderabad will purchase homes ranging from Rs.40 lakh to Rs.1.5 crores dealing in maximum sales with 78% of the new supply, while the house pricing of Rs.80 lakh and Rs.1 crore too found some takers.
