: 2BHK prices in Hyderabad rise 7.35%, second highest in India #IndiaNEWS #Hyderabad Hyderabad: The average price of 2BHK units in Hyderabad saw a 7.35 per cent increase in 2022 – the second highest

2BHK prices in Hyderabad rise 7.35%, second highest in India #IndiaNEWS #Hyderabad
Hyderabad: The average price of 2BHK units in Hyderabad saw a 7.35 per cent increase in 2022 – the second highest across India – reports a survey by NoBroker, India’s first proptech unicorn.
This increase has caused real estate to become more lucrative as an investment opportunity, with 18 per cent of NoBroker’s respondents saying they wanted to buy property as an investment and 86 per cent of its Hyderabad respondents saying they believed this is a good time to buy a property.
NoBroker’s report broke down the key trends defining the real estate sector by combining platform data with survey responses from over 26,000 customers across India.
According to the report, residential real estate has become a lucrative investment opportunity for domestic and NRI buyers. While 82 per cent of respondents wanted to buy a property for end-use, 18% indicated that they wanted to buy property as an investment. This trend was driven by several factors, including robust long-term capital appreciation and improved rental yields.
Rental yields increased by 3-5 per cent across top metro cities, while the average price of 2BHK units also saw healthy appreciation, with Chennai (7.9 per cent) and Hyderabad (7.35 per cent) registering the maximum price appreciation.
With the declining value of the Indian Rupee giving them a significant advantage, NRI interest in the Indian real estate space also surged this year. Developers catered to this growing overseas demand with high-quality luxury housing projects, the demand for which outpaced the demand for mid-segment homes.
Pent-up demand has been driving up home prices, buying activity, and rent inflation. Perhaps the most defining trend of 2022 was the post-pandemic pent-up demand, NoBroker’s report pointed out.
Migrant professionals returning to working from office in key cities resulted in high demand for rental properties. However, due to Covid-19, the construction activity came to a halt resulting in less supply of housing units. This resulted in major cities registering rent inflation between 12 per cent and 40 per cent.
By Anirudh S.K.

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