Hyderabad key for first time homebuyers

The residential property sector in Hyderabad has been prospering with many new projects and high supply and demand for properties. Augmenting to this, low-interest rates on home loans and higher disposable incomes have heightened the scope of real estate. 

If major metropolitan cities are inundating in terms of residential properties, Hyderabad is confirmed to be the most promising investment pick for numerous buyers. 

As per the 2021 Real Estate Report by a portal Hyderabad documents the greatest number of first-time buyers with 69 percent, and 84 percent last year. Bengaluru recorded 61 percent, Chennai took 53 percent, Delhi-NCR had 57 percent, Mumbai retained 60 percent, and Pune stood at 49 percent. 

The report exclaimed that lower interest rates and securely owning a physical asset was the buyer's biggest priority in Hyderabad, with ready-to-move-in places being preferred by more than one-third of buyers when compared to an under-construction property. More than 84 percent of buyers are anticipated to buy properties for their use and about 61 percent prefer properties under Rs 60 lakhs. 

The report also reveals the need for space, showing that more than 80 percent of buyers are eager to purchase a 2BHK or a 3BHK unit size apartment.