Hyderabad residential mkt sees steady growth

Hyderabad: The residential real estate market in the city of pearls saw a healthy performance in July-September (Q3) quarter of 2022. An increase in new launches and sales momentum in the post-pandemic period will give a further push to the realty sector here, Anarock Property Consultants said.

In their quarterly report, the real estate service company said that Hyderabad accounted for 13 per cent of the total residential sales across the top seven cities in the country. Wherein sales of residential properties stood at11,650 in Q3, a four per cent increase from the second quarter. In year-on-year sales, Hyderabad witnessed the highest increase in home sales at 73 per cent, among the top seven cities.

"Hyderabad residential market's performance remained robust in July-Sep quarter of 2022. The city's residential market is expected to expand even further in the next quarters, as seen by increased launches and sales momentum in the post-pandemic period. The average property price is also likely to witness appreciation in the coming months as there is scope for growth in contrast to many of its other city counterparts," Anarock Property Consultants informed.

The zone wise residential sales remained marginally constant like the prior quarter. The two zones West and North Hyderabad, with a sales share of 49 per cent and 43 per cent respectively, saw one per cent q-o-q drop in both the zones. Whereas East and Central Hyderabad saw one per cent quarterly increase in the housing sales, with individual contribution of five per cent and one per cent to the city's total home sales. The sales volume of South Hyderabad remained constant at three per cent.