Due to an increase in home loan rates and property prices, Hyderabad real estate became the second-most expensive market in 2022.
According to Knight Frank's Affordability Index 2022, Mumbai is the most expensive real estate market, with an average household's home loan EMI accounting for 53% of income. Real estate in Ahmedabad, Gujarat is considered to be the cheapest because the city's home loan EMI to income rate is only 22 percent.
Home loan EMI to income percentage in Hyderabad real estate
In the Hyderabad real estate market in 2022, the home loan EMI to income ratio is 30%. When compared to affordability in 2019, it is superior. The house loan EMI to income percentage was 34 in the year preceding the pandemic's emergence. The rate in NCR is 29 percent, whereas it is 27 percent in Chennai and Bengaluru.
Why do NRIs prefer to invest in the real estate market?
Despite the fact that stock and mutual funds provide better returns than real estate, NRIs choose to buy properties in prominent cities such as Hyderabad, Bengaluru, and Delhi-NCR.
One of the causes is their COVID-19 experience. During the epidemic, many of them, particularly those working in Gulf countries, lost their employment, forcing them to return to India. According to a recent survey, 71% of NRIs believe that investing in real estate is the greatest alternative. When compared to the previous year's findings, the proportion increased.
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