Hyderabad’s housing market continued to witness a strong sales growth in 2022, registering a 28 per cent year-on-year growth in home sales.
HYDERABAD: The Hyderabad housing market continued to witness a strong sales growth in 2022, registering a 28 per cent year-on-year growth in home sales. A total of 31,046 units were sold in the city during the year, which is the highest number of sales recorded in the city since 2011.
There was also a substantial increase in new housing units launched in Hyderabad, with a 23 per cent increase in the number of units launched. Developers to add 43,847 new units to the market in 2022, cashing in on the positive response among homebuyers. The year 2022 saw several new projects launched by the developers in the city.
According to a Knight Frank report, Hyderabad’s housing market is set to witness strong growth in the second half of 2022 with sales of 16,353 units, a growth of 32 per cent over the same period last year.
Most of the new housing units were launched in West Hyderabad, with around 61 per cent of the total units located in this area. Tellapur, Kollur, Gandhipet and Narsingi were among the places which saw maximum development activity. The northern parts of Hyderabad also saw a marginal increase in its share in total sales, from 18 per cent in H2 2021 to 19 per cent in H2 2022.
Hyderabad records record sale of 31,046 homes in 2022
Story first published: Wednesday, January 11, 2023, 19:30 [IST]