Hyderabad’s residential sales rise 150% during Jan-June: Knight Frank India
The unsold inventory stood at 11,918 units compared to 4,037 units last year, according to India Real Estate January – June 2021 report announced by international property consultant Knight Frank India.
Hyderabad: New home sales in Hyderabad witnessed a significant 150% growth year-on-year (YoY) to 11,974 units in six months of 2021 as compared to 4,782 units in the same period last year. With respect to new launches, the city witnessed a 278% year-on-year growth to 16,712 units as compared to 4,422 units in the first six months of 2020.
The unsold inventory stood at 11,918 units compared to 4,037 units last year, according to India Real Estate January – June 2021 report announced by international property consultant Knight Frank India.
Demand grew across all ticket-sizes in the first six months this year. The Rs 25 lakh to 50 lakh category recorded a 240% YoY increase whereas the Rs one crore to Rs two crore category recorded a 158% increase this year so far compared to last year.
West Hyderabad (Kukatpally, Madhapur, Kondapur, Gachibowli, Raidurgam, Kokapet) continues to account for the largest share in residential sales as well as launches. Micro-markets located in the northern part of the city also recorded an increase in their share in sales and launches.
Due to the pandemic-induced work from home trend, demand for larger homes has picked-up substantially in the Hyderabad residential market. The share of the Rs one crore to Rs 2 crore ticket-size category in the total launched units grew from 18% or 1,544 units in the second half of 2020 to 27% or 4,444 units in the first half of 2021.
Samson Arthur, Branch Director – Hyderabad, Knight Frank India said, “The Hyderabad housing market responded strongly on all parameters. While IT firms, a key anchor, continued to grow in their core business, Hyderabad continued to be a promising residential destination for endusers and investors alike. A unique proposition for the city’s attractive index continued to be the Telangana Government’s thrust on improving infrastructure.”
Residential prices in Hyderabad increased marginally by 1% to 4,720 per sq ft.
HYDERABAD MARKET SUMMARY
|
Parameter |
Jan-June 2020 |
Jan-June 2021 |
Change (YoY) |
|
Launches (housing units) |
4,422 |
16,712 |
278% |
|
Sales (housing units) |
4,782 |
11,974 |
150% |
|
Price (weighted average) |
Rs 50,300/sq m (Rs 4,673/sq ft) |
Rs 50,803/sq m (Rs 4,720/sq ft) |
1% |
|
Unsold inventory (housing units) |
4,037 |
11,918 |
195% |
Note: 1 square metre (sq m) = 10.764 square feet (sq ft)
Source: Knight Frank Research
