Hyderabad: The luxury housing segment, which includes ticket sizes of properties above Rs 1 crore, is growing rapidly in Nizam City. The rising income levels in the city along with greater investment and demand coming from high net worth individuals for residential properties have also contributed significantly (…)
Published date – June 3, 2022, 11:04 pm
Hyderabad: The luxury housing segment, which includes ticket sizes of properties above Rs 1 crore, is growing rapidly in Nizam City. The rising income levels in the city along with greater investment and demand coming from high net worth individuals for residential properties has contributed significantly to the growth of the luxury segment. According to a report, Hyderabad luxury residential real estate witnessed the highest share in total sales among southern cities in the first quarter of 2022.
Around 2,211 properties priced above Rs 1 crore were sold in the city in the first quarter of 2022, accounting for 32 per cent of the total sales for the quarter, the report said. On an all-India basis, the luxury segment accounted for 25 per cent of total sales for the quarter.
The report noted that in comparison, Bengaluru and Chennai saw the share of luxury residences in total sales for the same quarter at 20 per cent and 17 per cent respectively.
For Hyderabad, the highest sales in the luxury segment occurred in Q2 2021 when the share of the luxury segment in total sales was 37 percent.