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Hyderabad Most Sought-after Commercial Hub After Bengaluru
According to a Real Estate Thematic report by Motilal Oswal Financial Services Limited, about 55% of the commercial spaces have been taken up by IT/ITes sector.
G
Guru Prasad
Hyderabad
Wed Feb 02 2022
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Hyderabad Most Sought-after Commercial Hub After Bengaluru
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Hyderabad has been seeing robust growth in the commercial sector, and the city is now being considered as the best alternative to Bengaluru. There has been increased fresh hiring as well as pay rises over the past six months. According to a Real Estate Thematic report by Motilal Oswal Financial Services Limited, about 55 percent of the commercial spaces have been taken up by IT/ ITes companies.


Incidentally, Hyderabad, along with Bengaluru and Pune, is high on demand scales as there is lots of activity happening on the commercial side. The largest IT hubs are based in these cities, and they happen to be the biggest consumers of office space.


The report also stated that Hyderabad, Bengaluru, and Pune are the three cities that happen to be IT hubs with 45 to 55 percent of the total office space absorption rate. Thanks to the pandemic and recurrence of the virus, small and medium-scale companies continue to face the impact of COVID-related lockdowns. However, the job market has seen massive hiring activity led by IT and ITes companies.


Hyderabad has also witnessed the lowest exits of developers and stands third amongst the nine cities. In fact, Hyderabad is emerging as an expansion hub for many south-based developers, and given the positive curve, the demand will be higher, says the report. This apart, the residential real estate sector is all set to see an upward curve due to improved affordability.


While few markets such as Pune, Bengaluru, and Hyderabad are conducive for price hikes, the industry at large will take another 12 to 18 months for recovery, says the report.


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Hyderabad Most Sought-after Commercial Hub After Bengaluru
Hyderabad Most Sought-after Commercial Hub After Bengaluru
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