Hyderabad's residential unit sales remain resilient

HYDERABAD: While the office space absorption in Hyderabad has been dismal this year as per a recently released report, the sales of residential units have remained resilient as per the JLL’s ‘Residential Market Update - Q2 2021’, which was released on Monday.

As per the report, in the first half of 2021, around 6,866 residential units were sold in Hyderabad, which is 62 per cent more than the number of units sold in the first half of 2020 (4,234).In fact, the housing market seems to be doing better in Hyderabad than in other top cities in the country. The report stated that the number of residential units sold in Hyderabad in the second quarter this year (April-June) declined by 15 per cent as compared to the first quarter (January-March). In comparison, residential units sold in Q2 declined by as much as 81 per cent, 56 per cent and 55 per cent in Chennai, Kolkata and Delhi NCR respectively.

The JLL reports focuses on seven cities -- Hyderabad, Bengaluru, Chennai, Mumbai, Pune, Kolkata and Delhi NCR. In these seven cities, 45,218 residential units have been sold in the first half of 2021, as compared to 38,204 in the first half of 2020, registering a rise of 18 per cent.

62% MORE UNITS SOLD IN 1ST HALF OF ’21
In the first half of 2021, around 6,866 residential units were sold in Hyderabad, which is 62 per cent more than the number of units sold in the first half of 2020 (4,234)