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Demand for Larger Residences Increases in Hyderabad’s Realty Market

Posted by luckypropertywala_sxyoj4 on June 29, 2022
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The sentiment of residential property buyers in Hyderabad’s real-estate market is changing
rapidly as buyers are now willing to spend more if it means they can buy larger houses to live in.
Till 2021, the demand for residential properties was higher in the affordable segment i.e., from
₹25 lakhs to ₹50 lakhs category. Since 2021, the demand has shifted towards mid-segment (₹50
lakhs to ₹90 lakhs) with many buyers ready to spend upwards of ₹80 lakhs for larger living
spaces. The ultra-luxury segment (₹2 crores to ₹5 crores) has also seen an increase in demand
over the last few years.
In Hyderabad, the western corridor of the city has always been the hotspot for demand and now
buyers are looking for larger residential units in 3BHK, 4BHK configurations or prefer ready to
occupy row houses or villas in gated communities. This new sentiment amongst buyers for larger
homes has emerged after the first wave of the Covid-19 pandemic with higher disposable
incomes, requirement of more space for working from home and ample space for children &
other family members is making homebuyers opt for larger properties which are naturally more
expensive.
A Hyderabad based realty developer & real-estate expert said “most of the new residential
buildings coming up in Hyderabad are more focused on larger homes and are high priced. From
buyers preferring to buy apartments that are either three-bedroom or four- bedroom to some even
looking at independent floors, the whole residential real estate market has evolved over time.
While the pandemic did force people to look at homes that can accommodate both office and
personal lives, the IT sector – which is a major industry in Hyderabad – has also rolled out hikes
generously, thus, contributing to higher disposable incomes.”
Anarock, a real-estate consultancy firm, recently published a report on Buyer Interest Profiling
of Indian Real-Estate. The report mentions that the service class is the dominant socio-economic
segment and also the primary homebuyers in India. The report data reveals that mid to high-end
segment units are currently the most preferred amongst homebuyers in India & service-class
buyers are driving the house demand with a 68% share. 90% of the Indian housing market is
driven by end-users who purchase homes with the sole purpose of using it for their own
purposes.
The report also mentioned that nearly 93% per cent of property buying in Hyderabad is for end-
use and only 7% of buying is by investors for investment purposes. It also mentioned that there is
a growing affinity towards large size homes with 3BHKs and 4BHKs constituting almost 70% of
the demand. In terms of pricing as well, Hyderabad holds a unique market position as more than
70% of buyers are in the market looking for properties that are worth more than ₹80 lakh with
the ₹2 crore to ₹5 crore segment also seeing a quite high demand of almost 17%.

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