If you are into the real estate business, then this is the right time for you to concentrate more on the Hyderabad real estate market. You are probably confused by the question, “Why Hyderabad market now?” After the bifurcation of the Andhra and Telangana, the Hyderabad realty market is stabilising, and the housing market is taking up the hands to hold on to something interesting and more valuable.
It is evidential in the realty market that the office segment is recovering and hence the demand is on the higher side, but the supply constraints are holding back a little. 2015 has been a great year so far if the real estate market is taken into account, but unfortunately the first half of the year was not so good for Hyderabad when compared with that of the other top cities of India. The real estate consultancy, Knight Frank reported that Hyderabad didn’t have much to do in the first half of 2015 but managed to be above Kolkata which was in the last in the sales volume list of top 8 cities in the country. But, in the start of the second half of the year Hyderabad property value was raising, and the Hyderabad market is having a gradual increase in sales volume. This increase gives us the evidential proof that the market is going to be on the upper side exactly opposite to how it was in the first half of the year.
Why was the market on the downside?
The availability was the primary constraint. The decreasing availability of office space and also the demands that were left unfulfilled are the primary reason for the less growth. The space quality was little down which made the occupiers move towards the peripheral areas. The price was considered bit high locally but when compared with that of the other cities in the country, the price was lower. The executive director of Retail and hospitality at Knight Freak, Mr. Ghulam M.Zia said, “While pricing is a local issue, Hyderabad realty prices are amongst the lowest when compared to other cities.” So the price was also one of the reasons to let market on the bottom side.
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The Current Scenario:
As said before, even though the first half of 2015 was not as expected, the second half is showing out some promising improvements which make everyone believe that this half would turn around things. Another person from Knight Freak, Vasudevan Iyer stated, “While there is a drop in residential launches and absorption levels are also low, the scenario is bound to change soon with the recent RBI rate cuts, infrastructure development with metro connectivity and further impact of the political stability.” He also added, “When compared to that of the real estate market in other cities, Hyderabad is showing promising improvement with the increasing demand and declining supply.”