The real estate sector, which has been seriously influenced by COVID-19, is currently rebooting with the residential property market getting momentum in Q3 (July-September).
During the first and second quarters, the sale of residential properties was hampered as purchasers didn’t show a lot of interest in buying homes in the wake of the second wave. With a few sectors and industries almost returning to pre-pandemic levels, the realty sector has inhaled a sigh of relief.
As per Anarock Property Consultants, Hyderabad recorded a housing sale of around 6,735 units in Q3 2021. This is a huge spike of more than 300% from Q3 2020, mostly because of a continuous flow of new supply in the course of the last four to five quarters. In Q2 2021, the city registered sales of around 3,240 housing units, which almost doubled to 6,735 units between July and September.
The nation over, housing sales surged 113% year-on-year across the top seven cities from around 29,520 units in Q3 2020 to almost 62,800 units in Q3 2021. As to new launches, MMR, Hyderabad, Pune and NCR in total represented 77% of the supply addition in the country.
Sharp rise in new units
In Q3 2021, Hyderabad added 14,690 units, a yearly increment of 67% over Q3 2020. More than 78% of the new supply was in the ’40 lakh-‘1.5 crore price bracket.
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