Comments
Real Estate here has been witnessing a strong growth in both the commercial and residential markets during the second half (H2) of 2018.
In commercial office market, both supply (19 per cent) and leasing activities (24 per cent) saw heightened activities, in 2018 over 2017. Commercial office leasing saw record high transactions of over 4 msf (i.e 1000 square feet) in H2 2018.
The residential market supply saw a whopping 54 per cent rise year-over-year (YOY) in full year 2018 while sales rose by 9 per cent YOY in 2018, according to Knight Frank India.
Knight Frank India in its tenth edition of its flagship half-yearly report - India Real Estate - highlights some key trends in the real estate market in the country. The report presents an analysis of the residential trends across eight cities and office across seven cities for the period July–December 2018 (H2 2017).
The sales trend for Hyderabad registered positive growth of 15 per cent in H2 2018 over the same period last year. The total units sold in this period was recorded at 7,278.
During 2018, Hyderabad recorded total sales of 15,591 units registering an annual rise of nine per cent over last year.
The market, while operating on a lower base when compared to other markets, has be registering steady upward movement in sales velocity, especially post the de-merger from erstwhile Andhra Pradesh.
After much delay, RERA becomes a reality in Telengana and new launches slowed down due to teething problems after RERA became a reality in September 2018.
West Hyderabad continues to the largest market accounting to 84 per cent of the new launches in the city. H2 2018 recorded an all-time high leasing volume of 4.3 msf. IT/ITeS constituted 44 per cent of the total leasing.
Samson Arthur, Branch Director, Hyderabad, Knight Frank said, “Hyderabad is definitely punching above its weight and regaining its challenger status to other key markets of India. This is especially true in case of commercial leasing where the volumes are comparable to those of NCR and Mumbai. The residential market, backed by heightened sentiments, has been performing well above the national average. In context to the residential market specifically, Hyderabad’s infrastructure has been instrumental in augmenting sales as well as prices.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.