Buyers Eye Larger Homes Amid Covid

Buyers Eye Larger Homes Amid Covid

Buyers Eye Larger Homes Amid Covid

2022 appears to have started in a good place as the city’s residential market with Hyderabad and its peripheral districts encompassing Medchal-Malkajgiri, Rangareddy, and Sangareddy, collectively measured ₹2,695 crores worth sales in January. 

Amidst the third wave of Covid-19, Hyderabad reported 5,568 new apartment registrations in January 2022. 

As per the report, properties below 50 lakh saw maximum buyers even as the average transacted price of these homes hiked by 7.8%.  

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said Hyderabad was among the top eight in India's real estate market during 2021. The decline in registration activity in January, due to constraints in mobility, impacted sales across many markets in India, including Hyderabad; they anticipate the volumes to recoup once usual market operations resume. This, given that other market indicators such as prices, continues strongly growing despite the pandemic's influence. 

Surprisingly, the sale of smaller-sized homes fell while those in the 1,000-3,000 sqft witnessed a rise in buyers. The bigger houses segment, that above 3,000 sqft, remained solid. 

The report also augmented that the pandemic stimulated the need for better housing, and this need has continued strongly in January 2022 as well. 

Disclaimer: The information provided above is for informational purposes only. https://propertyadviser.in does not guarantee the accuracy, completeness, or reliability of property.

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