Hyderabadis show strong preference for 2BHK homes

According to the ANAROCK survey, 47 percent of respondents expressed a strong inclination towards 2BHK units, while 45 percent favoured the slightly larger 3BHK homes

Hyderabad: In the face of mounting property prices and successive interest rate hikes over the past year, the Hyderabad real estate market remains as resilient as ever. The city’s denizens are displaying a penchant for mid-range and premium homes, a fact highlighted by the recent ANAROCK Consumer Sentiment Survey for the first half of 2023.

The results of the survey revealed a trend – despite economic uncertainties and the tightening of purse strings, Hyderabadis are showing a preference for 2BHK and 3BHK homes.

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According to the ANAROCK survey, 47 percent of respondents expressed a strong inclination towards 2BHK units, while 45 percent favoured the slightly larger 3BHK homes.

Breaking down the budget preferences, the real estate services firm revealed that in Central Hyderabad, the budget for a 2BHK home ranges from Rs 85 lakh to 1 crore. Meanwhile, in East Hyderabad, budget-conscious buyers can secure a 2BHK unit for a more affordable price of Rs 45 lakh to 55 lakh.

In North Hyderabad, the housing market provides options in the range of Rs 50 lakh to 60 lakh for 2BHK homes. Heading towards the southern region, prospective homeowners can find a comfortable 2BHK dwelling for approximately Rs 40 to 50 lakh. In West Hyderabad, a budget of Rs 60 to 70 lakh opens the doors to premium 2BHK living.

On the other hand, the ANAROCK report for the first half of 2023 has reported a significant surge in home sales in Hyderabad. A total of 27,800 homes were sold during this period, marking an impressive 14 percent increase compared to the same period last year.