The real estate industry in Hyderabad has witnessed remarkable growth due to various factors, such as its outstanding infrastructure, a flourishing IT sector, and a rising population of young professionals.
Hyderabad has once again demonstrated its strength in the real estate market by securing the third position in both the sales of residential properties and new launches during the calendar year 2022.
As per a report by the renowned real estate consultancy firm, PropEquity, Hyderabad surpassed other cities such as Bengaluru, Mumbai, Navi Mumbai, and Chennai regarding new launches with a total of 66,683 units. The city's supply share constituted 13 percent, indicating a robust and consistent real estate market.
Thane bagged the first position with 81,849 new launches, while Pune secured the second spot with 69,525 launches, per the PropEquity report. Hyderabad, with 66,683 new launches, secured third position among the top cities with the highest number of new launches in 2022.
According to the report, the sales of residential properties in tier-1 cities in India were over 250 percent higher than those in tier-2 cities in 2022. The total absorption of residential properties in tier-1 cities was 4.53 lakh units, which is significantly higher than the 1.83 lakh units absorbed in tier-2 cities.
Samir Jasuja, the Founder and Managing Director of PropEquity, commented that the disparity in sales of residential properties between tier-1 cities and tier-2 cities is a result of better employment opportunities, improved infrastructure, and a higher standard of living in the former. These factors have contributed to the growth of the real estate sector in tier-1 cities and made them more attractive to investors and homebuyers.
The real estate industry in Hyderabad has been thriving due to various factors such as its excellent infrastructure, a flourishing IT industry, and a growing population of young professionals. The upcoming projects and increasing demand from buyers are expected to further boost the real estate market in the city in the coming years. Additionally, the city's conducive business environment, increasing urbanization, and supportive government policies are likely to sustain this growth, making it an attractive destination for real estate investment.
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