HYDERABAD: The bull run of housing sales in Hyderabad has continued in Q1 2022, with the city adding approximately 21,550 units in the quarter. This is a yearly increase of 71 per cent over the corresponding period last year. Over 63 per cent new supply was added in the Rs 80 lakh to Rs 2.5 crore price bracket.
The top seven cities recorded new launches of around 89,150 units in Q1 2022 against 62,130 units in Q1 2021, an increase of 43 per cent over the corresponding period in the previous year. The key cities contributing to new launches included Mumbai Metropolitan Region, Hyderabad, Pune, and Bengaluru, together accounting for an 82 per cent supply addition.
With regard to purchases, Hyderabad recorded sales of 13,140 units in Q1 2022, a massive spike of 199 per cent over Q1 2021 - mainly due to the continuous flow of new supply in the city over the past 5-6 quarters. Not surprisingly, Hyderabad recorded the highest 5 per cent annua l jump inprice movement.
“The bull run in the housing market continued in the first quarter of 2022. The impact of the third Covid-19 wave was significantly lower than of the preceding two waves. The unrelenting appetite for homeownership amid the pandemic has coupled with a growing certainty of impending price rises to speed up housing sales velocity,” Anuj Puri, Chairman, Anarock Group.