West Hyderabad dominates property sales
City accounts for highest launches with over 24% among top seven cities
Hyderabad: Positive vibes for real estate continued for Hyderabad with the city accounting for highest launches, around 24 per cent, among the top seven cities.
In the second quarter (Q2) of 2021, western parts of the city dominated property sales significantly. Of the total 3,240 units sold during Q2, 68 per cent were sold in western parts and 27 per cent were sold in the northern parts of the city.
According to ‘Residential Market Viewpoints-Hyderabad Q2 2021’ released by Anarock Property Consultants, Hyderabad also reported an increase in its share of sales among top seven cities in the country, from 8 per cent in first quarter (Q1) to 13 per cent in second quarter of 2021. The report said that Hyderabad showed the lowest quarterly decline in sales among top cities.
The western parts of the city also dominated in the highest number of property launches in the city, adding up to 94 per cent of new launches. This is in addition to dominating the entire available inventory of property units in the city. While 58 per cent of all the available units in the city are concentrated in western parts of Hyderabad, the northern parts followed with 34 per cent.
Overall in Q2, 8,850 units were launched in the city, making it the highest among top seven cities in the country. The number of new launches also increased drastically in Q2, as earlier it used to be in the 4,000-5,000 range. The city also accounted for the highest number of new launches in the country, grabbing 24 per cent of the share among the seven cities.
Among the new launches, the high-end segment accounted for 63 per cent of the launches in Q2. However, the mid-end segment accounted for 19 per cent of the launches reflecting a significant drop from the previous quarter as it was at 61 per cent in Q1 2021.
Of the 50,580 units available for sale in Q2 2021, which increased 109 per cent compared to the availability in Q2 2020, the high-end segment also accounts for 45 per cent of overall available units. This correlates to the high number of launches in that segment as well. The overall inventory is also 12 per cent higher than Q1 2021.
The Anarock Property Consultant report says that the city can expect an increase in launches in the next few months. While the demand and supply are likely to be affected if the third wave of Covid-19 strikes, the planned projects across the city are likely to drive growth as well.
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