Housing sales volumes have increased by up to 5% in Hyderabad while rentals increased by approximately 8% in H1 2018 as per reports. Several new residential projects have come up in Hyderabad which indicates growing demand and the revival of the real estate market here. Real estate demand has grown for four consecutive years according to a section of experts with higher demand for office spaces and the growth of co-working zones and IT campuses in the city. This has rubbed off positively on the residential real estate market. In the first half of the year in Hyderabad, 8, 313 units were sold with 5% of increase in housing sales volumes. The office market should continue witnessing higher demand for the second half of the year as well and hence growth is forecasted for the residential realty segment in this duration as well. Hyderabad is also the only metro in the country which has seen an increase in prices to the tune of 8% on a year-on-year basis. New completions have reduced by approximately 13% on a year-on-year basis but transactions increased by 15% in the office space segment. Hyderabad continues to be one of the biggest real estate markets in the country with 71% of new launches having taken place here. The majority of new housing launches will be in the category between Rs. 7.5-10 million. Hyderabad is steadily transforming into a coveted real estate destination due to other factors like political stability and growth in overall infrastructure. West Hyderabad is the fastest growing zone in the city at present with 69% of sales volumes witnessed here while inventory has come down overall by 44% on a year-on-year basis due to new launches and higher sales volumes according to the latest reports.
Sales volumes increase in Hyderabad
