Despite the challenges posed by increasing home prices and a persistent upward trend in interest rates over the past year, the real estate market in Hyderabad remains remarkably resilient. The latest ANAROCK Consumer Sentiment survey for the first half of 2023 reveals that the city's residents are displaying a strong inclination towards mid-range and luxury housing options. The survey findings highlight a discernible trend: Hyderabad's residents are increasingly opting for 2BHK and 3BHK homes, even amidst economic uncertainty and stricter budget constraints.
According to the ANAROCK survey, it was found that 45 percent of respondents expressed a preference for slightly larger 3BHK residences, while 47 percent showed a strong inclination towards 2BHK flats. The real estate services company further analyzed the favored budget ranges and discovered that in Central Hyderabad, 2BHK properties are priced between Rs. 85 lakh and Rs. 1 crore. For budget-conscious buyers, 2BHK apartments in East Hyderabad are available in the range of Rs. 45 lakh to Rs. 55 lakh.
In North Hyderabad, the property market presents opportunities for 2BHK homes within the price bracket of Rs. 50 lakh to Rs. 60 lakh. Those seeking to purchase property in the southern part of the city can find comfortable 2BHK residences priced between Rs. 40 lakh and Rs. 50 lakh. With a budget of Rs. 60 to 70 lakh, one can access luxurious 2BHK homes in West Hyderabad. In contrast, ANAROCK data for the first half of 2023 indicates a significant surge in Hyderabad property sales. During this period, a total of 27,800 residences were sold, marking a noteworthy 14% increase compared to the same period in the previous year.
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