Hyderabad has once again proved that when it comes to real estate investment, there is no other city that can match up to its reputation.
Hyderabad is the only Indian city to have recorded a 122-point year-on-year (YOY) increase in real estate price appreciation in the fourth quarter of 2020, with a marginal YoY increase of 0.2 percent. Hyderabad home sales have increased to 3,651 units, thereby marking a 127% quarterly increase in the fourth quarter of 2020, as compared with 1,609 units in the 3rd quarter of 2020.
This is primarily owing to festive season promotions and better layout plans triggered due to Covid-19 situation, which has called for meeting the work-from-home requirements.
How have Indian Cities Fared in Real Estate Market?
Chennai has the lowest rank in the world(at the 150th position) and a nine percent fall in home prices.
Bangalore was ranked at the 129th spot with a decline of 0.8 percent
Ahmedabad stood at the 143rd rank with a decline of 3.1 percent
Mumbai ranked 144th with a fall of 3.2 percent
Delhi was ranked at the 146th spot with a decline of 3.9 percent YoY in prices
Kolkata witnessed a 4.3 percent decline in home prices, standing at 147th spot
Pune stood at 148th rank with 5.3 percent decline
Hyderabad residential market performance has remained consistent throughout the pandemic, with the city's real estate market continuing to grow in each quarter, all over 2020, said Shishir Baijal, CMD, Knight Frank India.
This improvement can in large part be attributed to the fact that the city is a preferred destination for IT/ITeS professionals.