Hyderabad: Hyderabad recorded registrations of 4,313 units of residential properties in July 2022. In its latest assessment released this week, Knight Frank India said properties priced at Rs 50 lakh and above saw fewer transactions last month, contributing to the slowdown. The decline was caused by adverse sentiments towards major investment decisions (…)
Published date – 12 August 2022, 11:08 pm
Hyderabad: Hyderabad recorded registrations of 4,313 units of residential properties in July 2022.
In its latest assessment released this week, Knight Frank India said properties priced at Rs 50 lakh and above saw fewer transactions last month, contributing to the slowdown. The decline was due to adverse sentiments towards key investment decisions in the month of ‘Ashadha’ and increased uncertainty over rising interest rates.
The total value of assets transacted in July 2022 was Rs 2,101 crore, registering a decline of 26 per cent MoM. Since the beginning of the year, the city has seen sales of 40,897 residential units worth a total of Rs 20,023 crore. The Hyderabad residential market consists of four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy.
Of all residential sales registered during July 2022, homes in the price band of Rs 25 – 50 lakh accounted for 56 per cent, an increase from 34 per cent share in July 2021. The cumulative share of sale registrations for properties with ticket size of Rs 50 lakh and above declined to 26 per cent in July 2022 from 31 per cent in July 2021, according to Knight Frank estimates.
Homes in the 1,000 – 2,000 sq ft size accounted for 72 per cent of the total sales recorded during this period. About 41 per cent of home sale registrations were in Medchal-Malkajgiri district, followed by Rangareddy district with 38 per cent. Hyderabad district’s share in total registrations in July 2022 was recorded at 16 percent.
According to registration data, the weighted average prices of transacted residential properties have increased by 9 per cent year-on-year in July 2022. Sangareddy district saw the fastest growth of 27 per cent year-on-year in July 2022, indicating that higher value homes were sold in this location. During this period. Price growth in Hyderabad remained strong across all micro markets.
“The Hyderabad residential market witnessed some decline in July 2022 due to increase in prices and increase in home loan rates. “Going forward, we expect some short-term moderation in activity due to rising home loan rates and rising market prices,” said Shishir Baijal, Chairman and Managing Director, Knight Frank India.