Hyderabad are expected to lead India residential real estate recovery in 2022

Hyderabad is expected to lead Real Estate in 2022

Mumbai, Bengaluru, and Hyderabad are expected to lead India's residential real estate recovery in 2022

Bengaluru and Hyderabad are anticipated to dominate India's residential real estate recovery in 2022 as residential purchases have increased and affordability has been complemented by low home loan interest rates. 

IRIS Index tracks the top property search size of potential homebuyers indicating building-up of residential demand in India's key 42 cities. Cities like Surat, Jaipur, and Patna have reported the greatest increase in online property search volume in 2021.  

Dhruv Agarwala, Group CEO of Housing.com stated that "The year 2021 has been a year of positive change for residential realty. We firmly believe that the strong momentum in the residential markets will continue through the 2022 calendar year, provided India can effectively deal with the threat of Omicron variant spread." 

The index also revealed that bigger homes are the predicted choice among homebuyers in 2022 as companies proceed to give small working policies amid Omicron variant threats. Homebuyers are swaying towards bigger homes that have access to favorable healthcare services, security, and open spaces. The data revealed that search inquiries for apartments with 3+ BHK formats thrived by 15% year-on-year in 2021. 

The IRIS Index implied that the rental market in megacities might get back on track in 2022.