Hyderabad’s residential market has seen a phenomenal 171% as compared to other top 7 cities. Of all the sectors, real estate acts as the prime indicator of the faith that the majority section of the populace has in the city. It’s not just families; a major chunk of middle-class families too have put in their hard-earned money into creating a nest for themselves.
Property acquisition is reflective of the confidence that the investors, builders, bankers, raw material suppliers, and a host of other ancillary segments impose in the given city. Hyderabad has repeatedly been consolidating its position with continuous bleeps on the property radar. Also driven by robust policy-making and state government support, Hyderabad was not impacted by the global economic scenario the way it happened during the meltdown of the year 2008 nor the COVID-19 pandemic.
Unlike other metro cities and most developed nations that felt the brunt of the pandemic, Hyderabad real estate bounced back with renewed vigor and construction activity along with new and emerging locations, which is a testimony to its demand.
A report released by JLL, a leading professional services firm that specializes in real estate and investment management, points out that Hyderabad recorded robust residential sales as it saw the highest quarterly sales since Q2, 2008.
The JLL report stated that new launches increased by 24 percent Q-o-Q in Q2 2022 as many prominent developers expanded their footprint in western suburbs. One of the most prominent trends was that majority of sales were recorded in residential apartment units priced between Rs 1 crore and Rs 1.5 crore. Also, Hyderabad happened to see the highest quarterly sales since Q2 2008.