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Robust sales trim Hyderabad's unsold housing inventory to 27 months in Q1 2022

In Q1 2022, Hyderabad was second only to MMR in new launches, accounting for a 24 percent share among the top seven cities

Representative image.

Representative image.

Hyderabad witnessed sales of approximately 13,140 housing units in Q1 of 2022, registering the highest sales growth of 199 percent among all the top seven cities over the corresponding period in 2021. This trimmed the unsold inventory to 27 months in the first quarter of 2022, an analysis by Anarock said on April 27.

The average property prices in Hyderabad saw a maximum annual rise of 5 percent among top cities - from Rs 4,240 per sq. ft. in Q1 2021 to approximately Rs 4,450 per sq. ft. in Q1 2022, it said.

Robust sales in the last one year trimmed the housing inventory overhang from 53 months in Q1 2021 to approximately 27 months in Q1 2022 – a massive 26-month decline

In terms of new residential supply, Hyderabad saw an all-time high of new launches in 2021 – 234 percent higher than the average historical yearly supply. In Q1 2022, Hyderabad was second only to MMR in new launches, accounting for a 24 percent share among the top seven cities. Q1 2022 saw 21,500 new units launched - a 41 percent growth over Q4 2021, and 71 percent rise over Q1 2021, it said.

West Hyderabad was the major new launches contributor in Q1 2022, accounting for 60 percent of the city's new supply. North Hyderabad came second, contributing approximately 32 percent of the city’s new launches. East and South Hyderabad together accounted for a mere 5 percent of new residential units launched, it said.

More than half of the new launches (approximately 51 percent) were in the high-end segment priced between Rs 80 lakh and Rs 1.5 crore, followed by 29 percent in the mid-segment (Rs 40 lakh to Rs 80 lakh), and 11 percent in the luxury housing segment (Rs 1.5 crore to Rs 2.5 crore). The affordable housing (less than Rs 40 lakh) and ultra-luxury segment (more than Rs 2.5 crore) together accounted for less than 10 percent of Hyderabad's new launches in Q1 2022, it noted.

"Thanks to its property market's multi-faceted accelerators, Hyderabad now draws interest from all stakeholders including investors, homebuyers, and developers. Its high-performing socio-economic dynamics, well-developed infrastructure, relatively affordable prices - and, not least of all, the slowdown on Amaravati's real estate market - all work in its favour. Amaravati’s loss has been Hyderabad’s gain over the past 4-5 quarters," said Prashant Thakur, senior director and head, ANAROCK Research.

Moneycontrol News
first published: Apr 27, 2022 08:03 pm