Hyderabad Housing Market Recorded Highest Quarter-on-Quarter Increase of 38 Percent - News

According to real estate consulting firm JLL, at a time when rising input costs and interest rates have resulted in quarter-on-quarter (QoQ) growth in housing sales in most of the country’s top cities for the second quarter of 2022, Hyderabad has clocked the highest QoQ growth of 38 percent. Hyderabad was followed by Delhi NCR (+17 percent QoQ sales increase), Pune (+7 percent), and Mumbai & Kolkata (both with a 4 percent increase). Bengaluru and Chennai dropped by 55 percent and 8 percent, respectively.
Hyderabad accounted for over 10 percent of the 53,232 homes sold in the top seven cities in Q2 2022, with 5,537 units sold, compared to 4,012 units sold in Q1 2022, according to JLL’s ‘Q2 Residential Market Update’. According to JLL, rising input costs and strong demand have led to an increase in residential prices, with capital values rising 3-7 percent year-on-year (YoY) in all cities except Hyderabad, which showed resilience by having double-digit price growth during the same period.
Dr Samantak Das, Chief Economist & Head of Research & REIS, India, JLL, stated that the employment opportunities created by the IT sector and startups are driving Hyderabad’s residential market, and that state government investments in the city have opened new residential clusters in the city’s north and east. Meanwhile, real estate consultancy firm Knight Frank stated that Hyderabad’s outlook for housing property registrations remained positive for Q2, 2022.