Sales registrations in Hyderabad residential market grow 16% YoY: Knight Frank
Hyderabad: The annual residential property registrations in three (Hyderabad, Rangareddy and Sangareddy districts) of the four districts that constitute the Hyderabad residential market stood at 21,988 units during January to November 2021 period, representing a 16 per cent growth over the January-November period in 2020. The end of the year is a typically slow period […]
Hyderabad: The annual residential property registrations in three (Hyderabad, Rangareddy and Sangareddy districts) of the four districts that constitute the Hyderabad residential market stood at 21,988 units during January to November 2021 period, representing a 16 per cent growth over the January-November period in 2020.
The end of the year is a typically slow period in Hyderabad’s residential market with homebuyers preferring to postpone their purchases to the first half of the year which is considered to be more auspicious. It thus follows that the January – March 2021 period accounts for 41 per cent of the total sales registrations during the year (11 months) while 16 per cent of total sales have occurred in the September – November 2021 period.
Despite it being a traditionally slow period for sales, the September-November period in 2021 has recorded above average growth in YoY terms for all months in this period. This along with increasing number of enquiries at project sites shows the growing homebuyer interest in the Hyderabad market, according to Knight Frank India research.
Ticket size trend
Consistent with 2020, 66 per cent of residential sales registered during the January – November period have occurred in the under Rs 50 lakh ticket size. While the overall share remains consistent, a closer inspection reveals that the share of sales of the Rs 25 lakh—Rs 50 lakh ticket size has improved from 31 per cent in 2020 to 34 per cent in 2021 while that of the Rs 25 lakh and below category has declined to 32 per cent in 2021 compared to 35 per cent previously. This signifies the stress still being felt in the lower ticket sizes due to the threat of income disruption caused by the economic impact of the pandemic.
Prices had remained resilient in Hyderabad during the worst of the pandemic in 2020 and have grown steadily in 2021. The weighted average transacted price of residential properties has shown a healthy YoY growth of 5.8 per cent in the nine-month period ending November 2021 and depicting the underlying momentum of the market.
Hyderabad district
While total sales have grown by 16 per cent in YoY terms during January-November 2021 for the three districts, sales in Hyderabad district have grown by 58 per cent YoY during the same period. Even in terms of share of total sales, Hyderabad district has grown from 29 per cent during January – November 2020 to 45 per cent in YTD November 2021. Transacted prices have similarly outperformed, growing by 16.9 per cent in the January – November 2021 period.
Shishir Baijal, CMD, Knight Frank India said, “Hyderabad continues to be among the most attractive homebuyer markets with homebuyer demand and residential prices growing steadily despite the absence of any regulatory interventions such as the stamp duty cuts applied by the Maharashtra, Karnataka and West Bengal governments.”
Also read:
Aspirational buyers driving residential sales in Hyderabad
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