Hyderabad saw maximum sales in the INR 1 cr to INR 1.5 cr category
New launches increased by 24% Q-o-Q in Q2 2022
Hyderabad, 13th July 2022: Hyderabad recorded robust residential sales as it saw the highest quarterly sales since Q2 2008. It also witnessed the highest quarterly launches since 2008. New launches increased by 24% Q-o-Q in Q2 2022 as many prominent developers expanded their footprint in the western suburbs. Sales were up by 38% on a Q-o-Q basis. In H1 2022, Hyderabad saw sales growth of 39% as compared to H1 2021.
“Maximum sales in Hyderabad were generated in the Western suburbs submarket at Tellapur, Nallagandla, and Kondapur. One of the pertinent trends to note is that majority of the sales were recorded in residential apartment units priced between INR 1 crore-INR 1.5 crores. In H1 2022, Hyderabad saw sales growth of 39% as compared to H1 2021 as 9549 residential apartment units were sold during this period. Moreover, Hyderabad saw the highest quarterly sales since Q2 2008” said Sandip Patnaik, Managing Director, Telangana, and Andhra Pradesh, JLL.
Healthy offtake of residential apartments in Q2 2022
The residential market recorded sales of over 53,000 units in Q2 2022 which is an increase of 171% Y-o-Y as compared to Q2 2021 across the top 7 cities. This demonstrates the rising demand due to containment of the pandemic and buyer confidence coming back to the market. On a sequential basis, sales increased by 3% during the quarter. Appreciation in residential prices due to rising input costs and interest rates led to almost flat sequential growth in Q2 2022. Mumbai is the largest contributor to sales (23%) followed by Bengaluru with 21% and Delhi NCR with 19% of the overall sales. In terms of Q-o-Q sales growth in Q2 2022, Hyderabad witnessed the highest growth (38%) amongst all cities under consideration. Moreover, it witnessed sales growth of 75% Y-o-Y in Q2 2022 as the units sold increased from 3,157 units in Q2 2021 to 5,537 in Q2 2022.
|Q2 2021 (units)||Q1 2022 (units)||Q2 2022 (units)||Q-o-Q Growth (%)||Y-o-Y Growth (%)|