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.
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