Hyderabad, June 9 (Maxim News): Knight Frank India (KFI), leading real estate consultancy in the country, noted that sale of 6,301 properties were registered in Hyderabad in May 2022, a 152% YoY and 17.6% MoM increase. The total value of properties transacted in May 2022 stood at Rs 3,058 crore, a 146% YoY and 9.9% MoM rise, taking the cumulative value of all properties registered since January 2022 to Rs 15,071 Crore. The Hyderabad residential market includes four districts namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Of all residential sales registered during May 2022, home in the price band of Rs 2.5 to 5 Mn (Rs 25 to Rs 50 lakh) constituted 55%. Demand in the less than Rs 2.5 mn (Rs 25 Lakh) ticket-size however weakened with its share constituting 18%. The cumulative share of sales registrations for properties with ticket-size 5mn and above increased to 27% in May 2022 compared to 26% in May 2021.
The share of sales in unit-sizes over 1,000 sq ft maintained its share at approximate 81% of all home sales registrations in May 2022. Homes in the size of 1,000 – 2,000 sq. ft. were 73% of all sales registered during the period. The trend of homebuyers looking to upgrade and move into larger living quarters, that was sparked by the pandemic, continued to hold strong in May 2022 as well. A district level study shows that home sales registrations in the Medchal-Malkajgiri district was recorded at 51% in May 2022 followed by the Rangareddy district at 35%. The share of Hyderabad district in total registrations was recorded at 11% in May 2022.
The weighted average prices of transacted residential properties, as per the registration data, has grown by 6% YoY in May 2022. The area of Sangareddy saw the steepest rise of 44% YoY (albeit on low base) in May 2021 indicating more higher – value homes were sold in this location in May 2022. Price growth in the Hyderabad market has been strong in recent times. With higher value property being sold in May 2022; the weighted average price has shown an uptrend in all micro – markets of Hyderabad.
Shishir Baijal, Chairman and Managing Director said, “In recent years, Hyderabad has had one of the strongest demand trends, despite external factors such as economic downturn and inflation. While the rising building costs have had an impact on the more price sensitive categories, the upper segments have had little influence, keeping the market strong. End-users continue to be drawn to home purchases by factors such as job security, rising household incomes and savings, and conformable home-loan rates.” (Maxim News)
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