2022 brings cheer to Hyderabad’s real estate, housing units sale up by 87 per cent

About 3,64,900 housing units were sold in the top seven cities in 2022 against 2,36,500 units in 2021

Hyderabad: Despite the gradual hike in property prices and home loan interest rates in 2022, it has been a good year for residential real estate.

About 3,64,900 housing units were sold in the top seven cities in 2022 against 2,36,500 units in 2021. This is a 54% year-on-year increase. The sales growth in Hyderabad was 87%. The last peak was seen in 2014 when 3.43 lakh units were sold.

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In terms of cities, the Mumbai Metropolitan Region (MMR) witnessed the highest sales of 1,09,700 units in 2022, followed by NCR with 63,700 units. Hyderabad saw 47,487 units sold.

Meanwhile, new launches in the top cities saw 51% annual rise – from 2,36,700 units in 2021 to nearly 3,57,600 new units in 2022.

MMR witnessed the highest number of new launches (1,24,650 units) in 2022. It was followed by Hyderabad that launched 68,000 units in 2022 compared to 51,500 units in 2021. Both cities accounted for 54% share of all the residential launches in the year.

“2022 has been a phenomenal year for residential real estate despite all headwinds including rising property prices, interest rate hikes and geopolitical tensions. Housing sales in top 7 cities breached the previous highs of 2014 while new launches in comparison remained restricted,” said Anuj Puri, Chairman, Anarock Group.

“We anticipate the current sales momentum in the housing sector to continue in the first quarter of 2023. The appetite for homeownership has remained undeterred, with maximum sales being driven by the endusers. A lot will depend on how the home loan interest rates pan out over the next year,” he said.

Ready-to-move-in units will continue to top buyer demand. Demand for new launches will also gain momentum. The market will continue to be dominated by the large and listed developers. There is a sense of confidence among the buyers for these developers and hence they will continue to perform well and see significant sales, just as they did in 2022, he said.