- The home buying sentiment improved marginally, QoQ. Site visits and enquiries went up by approximately 20 percent in Jul-Sep 2020.
- Residential sales witnessed an uptrend, although minimally. Around 860 units were sold in the studied period against 750 units in the previous quarter.
- Western locales, such as Chandanagar, Narsingi, Kokapet, Kukatpally, Puppalguda and Patancheru, magnetised homebuyers’ attention and seized nearly 50 percent of the demand share. Mid-sized 2 BHK and 3 BHK configurations priced at Rs 50 lakh – Rs 1 crore remained popular.
- Amid slow offtake, the unsold inventory in the city increased by around 8-10 percent to reach 26, 400 units in the period ending September 2020.
* Supply is basis properties listed on 99acres.com * Demand is basis queries received on 99acres.com
The overall homebuying trend in Hyderabad remained meek in Jul-Sep 2020; however; as against the previous quarter, the sentiment improved marginally. With an increase in the number of genuine homebuyers, site visits and enquiries grew by approximately 20 percent in Jul-Sep 2020. Residential sales also recorded a hike, although minimally. Around 860 units were sold in the studied period against 750 units in the previous quarter.
Developers leveraged the unlock period and the marginal revival in sentiment to launch their planned projects. Close to 43 projects, including additional phases in existing projects were launched in the city. The majority of the new projects were by Grade A developers including Aparna Constructions, GK, APR and Vasavi dotting the micro-markets of Bachupally, Sanikpuri, Yacharam, Mallampet, Yapral and Vanasthalipuram.
Amid slow offtake, the unsold inventory in the city increased by around 8-10 percent to reach 26,400 units in the period ending September 2020. It may take around 17 months to dispose of the existing stock.
While the commercial sector is yet to revive, the vital parameters delineating the residential market such as new launches, site visits, and buyer sentiment remained positive, and realtors are optimistic that the lower Loan-to-Value ratio and the faster economic recovery from COVID-19 would improve the situation ahead of the upcoming festive period.
Key micro-markets across budget segments
|Key micromarkets||Average Capital 'Asks'||Average Rental 'Asks'||Rental Yield|
|Within Rs 40 lakh||Nizampet||3,300-3,900||11||3.59%|
|Rs 40 lakh - Rs 1 crore||Manikonda||3,800-4,900||14||3.46%|
|Rs 1 crore and above||Gachibowli||6,000-7,500||19||3.22%|
* Note: Rental Yield has been calculated for a 1,000 sq ft apartment. **Average property prices and rental rates have been calculated as per listings posted on 99acres.com in the studied quarter. ***The range of property prices may vary by 10 percent depending on the age and furnishing status of the residential apartments