Hyderabad sees massive spike of 199% sales

Hyderabad: Hyderabad recorded sales of 13,140 units in Q1 2022, a massive spike of 199 per cent over Q1 2021 - mainly due to continuous flow of new supply in the city over the past 5-6 quarters. The city added approximately 21,550 units in Q1 2022, a yearly increase of 71 per cent over the corresponding period last year. Over 63 per cent new supply was added in the Rs 80 lakh to Rs 2.5 crore price bracket, as per a latest report.

The residential properties sales bull-run continues in first quarter of 2022. Housing sales across the top 7 cities increased 71 per cent in January-March to 99,550 units, the highest quarterly sales since 2015, revealed latest Anarock research data.

"The bull run in the housing market continued in the first quarter of 2022, with 10 per cent q-o-q and 71 per cent y-o-y growth in sales, thus recording all-time high quarterly sales since 2015," Anuj Puri, Chairman, Anarock Group said.

"The impact of the third Covid-19 wave was significantly lower than of the preceding two waves. The unrelenting appetite for homeownership amid the pandemic has coupled with a growing certainty of impending price rises to speed up housing sales velocity," he added. According to Anarock, sales of residential properties stood at 58,290 units in the year-ago period and 90,860 in the previous quarter. The two leading realty hotspots Delhi-NCR, Mumbai Metropolitan Region (MMR) accounted for over 48 per cent of the total sales in the top 7 cities, with NCR witnessing over 114 per cent yearly jump.