Hyd housing sales dip 25% in June
5,408 residential properties worth Rs 2,841 cr were registered in the city
image for illustrative purpose
Hyderabad: Hyderabad witnessed 25 per cent decline in residential property registrations at 5,408 units in June 2022 as the market took a breather after observing a continuous upswing. Despite the moderation in sales in June 2022, the overall outlook remained positive with 9.1 per cent increase at 17,074 properties registered in the city during April-June (Q2), says a report.
As per the latest market insights of global real estate consultancy Knight Frank India, the total value of properties transacted in Q2 2022 seen a 25 per cent rise at Rs 8,685 crore, indicating towards the fact that while lesser number of homes were registered, the average value of homes registered in June was higher than its corresponding period last year.
The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. A district level study shows that 44 per cent home sales registrations were in Rangareddy district followed by Medchal-Malkajgiri district at 39 per cent. The share of Hyderabad district in total registrations was recorded at 13 per cent in June.
The weighted average prices of transacted residential properties have grown by 20 per cent in June. Hyderabad district saw the steepest spike of 29 per cent in the month indicating that higher value homes were sold in this location during this period. Price growth in the Hyderabad market has been strong in recent times.
Of all residential sales registered during June, homes in the price band of Rs 25 – 50 lakh constituted 53 per cent, which is an increase from a share of 35 per cent in June 2021. Demand in the less than Rs 25 lakh ticket-size, however weakened with its share constituting 16 per cent compared to 40 per cent a year ago.
Greater demand for larger ticket size homes is evident as the cumulative share of sales registrations for properties with ticket-sizes of Rs 50 lakh and above increased to 32 per cent in June 2022 from 25 per cent in June 2021. The share of sales in unit-sizes over 1,000 sq ft maintained its share at 82 per cent of all home sales registrations in June 2022.
Shishir Baijal, CMD of Knight Frank India said, "Despite a downtrend in registrations in June 2022, Hyderabad has had one of the strongest demand trends in Q2 2022, beating external factors such as global economic slump and inflation. Therefore, we expect the momentum to maintain the pace without much variance in the coming quarters."
