The residential market in the city has bounced back as new launches in H1 (first half) 2018 were 44% more than H1 of 2017 and sales breached the 8,000 unit mark for the first time since bifurcation. Office space transactions have increased by 15% compared to last year and the IT and ITeS sector has lost ground to other services sector.
According to a report released by Knight Frank India, the residential segment witnessed a sale of 8,313 units in H1 2018, a year-on-year change of 5%. The report stated that among several cities, Hyderabad saw a price appreciation by around 8%.
Residential markets across the city recorded a growth except east Hyderabad which comprises Uppal, Malkajgiri and L.B. Nagar. Explaining the launching and buying patterns, Mr. Arthur said, “The ₹75 lakh to ₹1crore bracket has seen the highest number of launches.” This, he said, is despite affordable housing being given a thrust. “The ₹50 lakh to ₹75 lakh bracket continues to do well,” he said.