Hyderabad-‘The city of Pearl’ emerged as one of the top real estate market in the whole country as revealed in a latest report by a real estate firm. In recent times, Hyderabad has attracted many professionals and home buyers due to increase focus by state Government through various new policies and IT infrastructure developments.
As per the reports, housing sales volumes have increased up to 5% while rentals increased by approximately 8% in H1 2018 as per reports. Because of the growth of co-working zones and IT campuses in the city, many IT professionals from all over the country are moving here and this has an increase impact on the residential real estate market. In the first half of the year in Hyderabad, 8, 313 units were sold with 5% of increase in housing sales volumes.
Also, numerous new residential projects have launched in the city. Going by the reports 71% of new launches taken place in the Hyderabad falling in the range of 75 lakh to 1 crores. Talking about the commercial real estate, Hyderabad’s office market maintained a higher demand and continuous growth in the second half of the year as well.
Hyderabad is also the only metro which has seen an increase in the property prices of 8% on a year-on-year basis. New completions might have reduced by approximately 13% on a year-on-year basis but transactions on real estate purchase have increased by 15% in the office space segment.
According to real estate experts, across all the major metros, Hyderabad has seen most positive transformation in the real estate sector which has turned this state into a sought after investment destination. Other factors like political stability and growth in overall infrastructure have also fueled up the property market.
Among various zones, West Hyderabad is the fastest growing zone in the city with 69% of sales volumes while inventory has come down overall by 44% on a year-on-year basis due to new launches and higher sales volumes.