New residential launches in Hyderabad up 10%

Hyderabad: The residential market in Hyderabad saw 10,256 new launches in the first quarter of 2022 i.e. between January – March indicating a 10 per cent year-on-year growth. According to a report by Knight Frank India on residential market sales, the city of Hyderabad showed controlled growth in terms of sales and price change.

The resilient market of Hyderabad experienced stable growth in the last quarter. One of the major markets of the country which exhibited sustained development without any State government interventions recorded a 1 per cent year-on-year (YoY) growth in sales in first quarter of 2022.

Hyderabad residential market has a mix of end users and investors and with the economy growing and positive traction from the end users and investors, demand is projected to stay robust.

The report also mentioned that the India residential market sales saw a four-year high in first quarter of 2022 with sales rising 9 per cent YoY to reach 78,600 units in Q1 2022. About 78,000 new units were launched in the same quarter and the price rise across all markets was in the range of one to 7 per cent YoY.

Knight Frank India CMD Shishir Baijal said, “Low interest rates, best affordability levels, healthy wage growth and the waning pandemic with lower risk of further disruptions have created a favorable environment for homebuyers who have rediscovered the need for new and better housing.”