Realty Boom in Hyderabad despite COVID-19 Damage

The Hyderabad construction industry saw its sales rise by over 60% compared to the same period last year despite the severe COVID-19 blow. Market reports indicate that the number of new home deals closed during this period was 4,400 compared to 2,680 during January an

BY Realty Plus
Published - Saturday, 29 May, 2021

Realty Boom in Hyderabad despite COVID-19 Damage

The Hyderabad construction industry saw its sales rise by over 60% compared to the same period last year despite the severe COVID-19 blow. Market reports indicate that the number of new home deals closed during this period was 4,400 compared to 2,680 during January and March 2020. The launch of new housing projects too increased this year reaching 7,000 installations in Hyderabad, causing an upward revision to property prices. This is despite the fact that Chennai and Bengaluru costs remained unchanged. Several factors contribute to the slow but steady growth of the real estate market, including the relative affordability of property prices and a robust infrastructure. According to city developers, a 50% to 60% recovery has been achieved since the pre-Covid-19 period. Experts believe now is a good time to buy property in Hyderabad due to the market mood. “With home loan rates at all-time-low in over a decade, and expected to continue to remain so through 2021, and developers offering various incentives to push sales, it is a good time to buy a house in Hyderabad provided one has financial stability. Although sentiment has dampened following a strong first quarter in 2021, its impact is likely to be temporary. The market will certainly bounce back in line with the reduction in active caseload and faster vaccinations that’ll improve consumer demand in the second half of 2021 – early 2022 and sales will come back to average levels again,” said Veera Babu, Managing Director of Cushman & Wakefield. .