Whether or not to buy your 3 BHK flat in Hyderabad? The time is just right!
Homebuyer sentiment in Hyderabad is on the upswing. Homebuyers in Hyderabad are increasingly preferring a 3 BHK flat for want of more space, especially, in a post-pandemic scenario.
With new residential project launches visible in both ‘gated community projects’ as well as ‘standalone building apartment projects’, 2021 brings all the positive indicators of revival. With measures of COVID vaccination in place, the sense of comfort in the Indian Economy resurging is very positive. The stock markets are the biggest indicators of this fact!
The scenario is no different in Hyderabad with home buyers exploring new project sites more than ever! Especially those who are looking for 3 BHK flat in Hyderabad
A few indicators which point homebuyers in Hyderabad in the positive direction are given below:
1. New project launches in Hyderabad
- In Hyderabad, we can see over 100+ new project launches in the 2bhk and 3 bhk apartments in the affordable as well as luxury segment in websites like sqareyards.com, magicbricks, and 99acres
- Demand for standalone building apartment segment has also prompted builders to offer ‘low-density living’ residential offerings on plot sizes between 400 square yards to 1500 square yards, which give you the advantage of living in good residential colonies that are NOT crowded. Plus, are located in excellent locations across Hyderabad
- These standalone building apartments built upon smaller plots (400 square yards to 1500 square yards plot size) are able to offer high-end luxury apartments with essential amenities like power back-up, lifts, and parking slots
- Builders who are invested in standalone building apartment depend on word-of-mouth publicity, local-marketing, and locational advantage to sell their apartments. Most of these are not seen in websites, and this is because they are able to meet the demand without dependence on digital media. Recce of prominent or chosen residential colonies itself indicate the projects of this nature
- The point is- these ‘standalone building apartments’ are thriving, and more than 90% of the home buyers are keen on these for the ‘unmatched’ advantages they offer. Especially, compared with huge ‘gated community complexes’ that are more expensive, and, usually offer smaller units for the same amount
2. Low inventory overhang in Hyderabad
- As compared to other cities, Hyderabad boasts of low unsold inventory from the last year (2020)
- With lowest Inventory overhang, demand for new projects is high. (Note- Inventory overhang is the ‘estimated time’ builders could take to sell their existing ‘unsold stock’)
3. CII-ANAROCK COVID 19 Sentiment Survey
- As per this survey, home buyers now preferring homes in areas that are not too crowded
- Young Millennials getting interested in buying a home post-COVID
- Clearly young home buyers who are in the early 30s are aggressively and clearly thinking about owning their own 2 and 3 bhk apartments in Hyderabad
4. Change in perspective post lockdown
- Home buying trends in 2021 are getting better, especially with a new found realization about the importance of owning a home
- ‘Work from home’ and importance of ‘space to move around’ within the house has led to more efficient designs, a departure from an otherwise change-resistant real-estate sector
5. Demand patterns in real terms
- Demand for 2 and 3 bhk apartments since Q3 of 2020 has gone up
- 3BHK apartments have received a greater impetus due to the need for bigger, more spacious homes
- Demand has gone up in both affordable and luxury segment
- Over 23% of the new launches across 8 major metros (Mumbai, Chennai, Delhi/NCR, Bengaluru, Kolkata) was witnessed in HYDERABAD
- As per ‘Real Insight: Residential Annual Roundup 2020’, more than 12723 apartments were launched in quarter 4 of 2020 in Hyderabad- the highest in the country
6. Greatest room for appreciation in Hyderabad
- Investing in a 3 BHK flat in Hyderabad gives you a lot of room for price appreciation compared to other cities
- This is because Hyderabad as a city us still cheaper than other cities
- Affordable land parcels are available in Hyderabad
- Overall cost of construction is lower in Hyderabad
- This means that the facilities and amenities in Hyderabad also cost less compared with other cities like Bengaluru, Gurgaon, Mumbai
The city of Hyderabad is resilient, and the civic infrastructure is only getting better with every passing quarter!
With positive indicators all around us, you can safely explore your dream home in the beautiful city of Hyderabad!
An anonymous quote- “Home is the starting place of love, hope, and dreams.”
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