Hyderabad's Real Estate Market to Boom in 2021: Know Why?

The year 2020 saw an unanticipated turn of events for economies across the world. The pandemic brought normal life to a halt hindering the growth of many industries. Industries operating with a large workforce or those that required on-site work like the real estate industry faced maximum pressure. Amidst this situation, Hyderabad's real estate sector has continued to show steady growth and surprised many analysts. For those looking to invest in this stable and growing real estate market, leading real estate developers such as N K Realtors are offering flats for sale in Hyderabad. 

Price Trends

Despite tremendous pressure caused due to sharp decline in demand nationally, Hyderabad's real estate market continues to grow, to witness consistent price growth. In the period of October-December last year, the average rate of newly-launched projects in Hyderabad increased 5% compared to the same period in 2019. Due to a steady increase in average rates, property prices are the highest in Hyderabad at present.

Even though unsold inventory and luxury apartments in Hyderabad have increased significantly as compared to the previous quarter, due to an introduction of new supply in this quarter, the city has the lowest inventory overhang nationally.

Affordability

Not every realty hotspot has the leisure to afford price increase for example property prices in Delhi are predicted to fall 2% this year. A recent report says rates across the country are not going to rise this year, after nearly tripling in the past decade and rising for many years at a double-digit rate.’

In the case of the southern cities such as Chennai and Bengaluru, a price raises of 2-3% is expected this and the coming year. In such a scenario, the increase in property rates in Hyderabad could be attributed to its affordability at a time when unreasonably overestimated markets in India are on their way down, rate-wise. One can easily get 3 bhk flats for sale in Hyderabad at an affordable price.

Hyderabad’s Infra Development

An increase in the price growth is due to infrastructural factors. Investors will continue gaming on Hyderabad realty because there are planned infrastructural developments. The Hyderabad Metro rail project has acted as a game-changer.  As it expands its network in the city, it would work its magic on emerging localities, too. While the actual values of property in such areas have begun to grow, their rental value would also appreciate, as soon as they get an operational Metro link.

To ease traffic conditions within and around the city and to curb pollution, the government is building a regional ring road (RRR) in Hyderabad. The government is also making significant changes in the city’s infrastructure such as building skywalks, flyovers, underground cabling, storm water drains, and development of green spaces across Hyderabad.

Quality Of Life  

The growing popularity of the city could also be because of the quality of life in Hyderabad is one of the best in India. The Mercer’s Quality of Living survey ranks Hyderabad as the best city to live in India – Hyderabad’s global ranking is 143. In the local survey also, Hyderabad has been ranked as the 27th best city to live in India. In the government’s clean city survey 2019, Greater Hyderabad is ranked 35th. Also, according to a report by IQAir AirVisual, Hyderabad is comparatively cleaner than most mega cities in India. N K Realtors is offering luxury flats in Hyderabad that provides great lifestyle with amazing facilities.