Hyderabad realty market to witness rapid growth in 2017
There will be increasing demand for flats for sale in Hyderabad as the city’s property market makes a strong comeback based on competitive realty prices and low cost of living in comparison to other metropolises. Hyderabad is witnessing positive sentiments amongst real estate investors and buyers and since it is the cheapest realty market amongst Tier-I cities, there is always steady demand. This should go up rapidly as per several reports and studies.
The Hyderabad metro rail project will continue being a major driver of real estate growth along with several other infrastructure projects. Residential markets will take some time to pick up initially since end users are still a little cautious about buying homes. However, with lower interest rates and other incentives, it is only a matter of time before sales start picking up in the city.
There will be high demand for flats for sale in Hyderabad across several emerging and well established locations as per experts. These include locations towards the western corridor including Kokapet, Manikonda, Tellapur, Narsingi and most importantly, Gachibowli which has transformed itself into a major IT and commercial hub as well. There should be renewed demand for commercial property and other office spaces backed by lower interest rates, infrastructure development, a thriving job market and lower realty prices as compared to cities like Mumbai, Delhi and Bangalore.
Hyderabad real estate will also witness healthy demand from professionals migrating to the city in search of better opportunities. This is because the city offers a low cost of living in comparison to all other Indian metropolises along with a good quality of life and fast paced infrastructure creation. With political stability and governmental support for public spending and infrastructure, demand is picking up Hyderabad real estate like never before. This should reach its zenith in the later part of the year as forecasted by property experts. The fast growing IT & ITeS sectors should continue to create jobs and this will indirectly boost housing markets in Hyderabad.