The luxury residential segment in the city has seen continued momentum in sales and launch activity during the quarter. Even in the previous quarters, the city has seen a considerable share in the luxury home sales across the country
As per a recent report of real estate consulting firm CBRE South Asia Pvt Ltd, Hyderabad, witnessed over 800 per cent rise in sales of luxury residential properties. About 430 units are in the luxury category among total 8,500 units sold in Hyderabad during January-March quarter (Q4) of FY 2022-23, whereas only 50 units are high-end out of overall 7,700 housing sales in the same quarter previous fiscal.
Hyderabad is one of the leading cities in India where maximum traction for premium units was recorded in Q4 FY23. The luxury residential segment in the city has seen continued momentum in sales and launch activity during the quarter. Even in the previous quarters, the city has seen a considerable share in the luxury home sales across the country. According to real estate experts, the city became a most-preferred property destination for high-net-worth-individuals (HNIs), ultra HNIs and non-resident Indians (NRIs). This is the main reason behind the rise in the luxury residential market. The city is also a favourite place for the immigrants from other States, because they found it growing both vertically and horizontally.
“The luxury segment in Hyderabad is primarily driven by rapid urbanisation, rising disposable income, increase in HNI & NRI investments, and an inclination towards large unit sizes among homebuyers. We expect the trend to continue in the Central and Western parts of the city,” Anshuman Magazine, Chairman & CEO of CBRE – India, South-East Asia, Middle East & Africa, told Bizz Buzz.
Explaining the other reasons contributing the demand for luxury housing in the city, he said: “The preference for modern amenities with a blend of entertainment and convenience, unlimited floor space index (FSI), and infrastructure development under Strategic Road Development Programme (SRDP) to promote connectivity are enabling luxury residential projects in the city.”
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According to real estate experts, the city became a most-preferred property destination for high-net-worth-individuals (HNIs), ultra HNIs and non-resident Indians (NRIs)
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This is the main reason behind the rise in the luxury residential market
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The city is also a favourite place for the immigrants from other States, because they found it growing both vertically and horizontally
The city is expanding and developing in all directions due to the metro rail connectivity, the existing Outer Ring Road (ORR) and the proposed Regional Ring Road (RRR).
With a stable government and the growing infrastructural developments, the city has established itself as a safe place where one could find all educational, healthcare and recreational facilities. “As numerous investments are happening across Hyderabad, there is a lot of positivity in the city. This has led not only the investors but also the end-users to buy properties here. The HNIs & NRIs are mostly investing in luxury housing. Thanks to the higher returns in this segment,” says B Sunil Chandra Reddy, President of Telangana Real Estate Developers’ Association (TREDA). “The NRIs from the GCC (Gulf Cooperation Council) nations are investing heavily in the city’s luxury real estate market for investment purposes. In the last couple of years, the high-end properties have seen higher rental yield and good capital appreciation across key localities of the city and that has contributed to the NRI interest in purchase of luxury residential properties here,” he informed.
Predicting the outlook, Anshuman Magazine said, “we foresee demand for luxury housing this year will be driven by the aspiration of continued home ownership. The momentum is expected to continue in the coming quarters as well. The projects with better amenities, focus on health & safety and clean surroundings are likely to further gain an edge amidst evolving consumer preferences.”
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