Over the last 2 years, the residential demand in Hyderabad has surged significantly due to the increasing employment opportunities and a positive market outlook. In the first half of 2018, the city witnessed an increase in sales by 182 per cent. It has made Hyderabad one of the most sought-after residential destinations in the country. From a Tier-II city, Hyderabad has successfully established itself as one of India’s fastest growing real estate markets over the last few years.
Industry experts at Modi Builders state that Hyderabad has experienced a phenomenal spurt in its residential real estate segment due to increasing capital values and increase in its demand for retail and commercial space from 2014 to 2018. Also, there has been a significant decline in the city’s unsold inventory since 2017. Hyderabad has better scores than various other metros when it comes to unsold inventory pile-up situation.
As per a recent survey, Hyderabad’s total unsold inventory in Q2 2016 was 35,560 units. It declined by around 14 per cent in the corresponding quarter of the next year. The unsold stock further reduced by 13 per cent in Q2 2018 as against the same period in 2017. Within 2 years, the total unsold stock in Hyderabad witnessed a decline by almost 29 per cent.
Realtors like Modi Builders have played a vital role in defining the landscape of the city. Various factors like the developments in the city’s realty sector and the increasing number of jobs are attracting a number of people to settle in Hyderabad. Advancing with the same pace, the city is in its race to join the club of megacities with population above 1 crore by 2030.
Based on its international standing, Hyderabad is deemed as the hub for tourism and information technology by the United Nations. The city provides immense employment opportunities and houses a number of top-notch companies like Apple, Facebook, Google, Amazon and others.
The IT boom in Hyderabad is deemed as one of the key factors driving the growth in demand for office spaces in the city. Leveraging the advantages, a number of multinational firms continue to amplify their presence in Hyderabad.
The clearing of political uncertainty has largely attracted realty investments post-2014. On a larger level, factors like increasing affordability, transit infrastructure leading to better connectivity to major workplace hubs, and enhanced social infrastructure are majorly driving investment sentiments in Hyderabad. The launch of Metro Rail services has led to better connectivity and ease of transport, and has given a boost to the investment opportunities in Hyderabad.
Despite the stagnancy in India’s real estate sector, Hyderabad is among a few metropolitan cities that have managed to enjoy stable growth. It has emerged as one of the most promising real estate markets in the country.