Hyderabad residential market riding high
on stability; office market exhibits stellar performance: Knight Frank India
Knight
Frank India today launched the fifth edition of its flagship half yearly report
- India Real Estate. It presents a
comprehensive analysis of the residential and office market performance of
Hyderabad for the period Jan- June 2016
(H1 2016).
Residential
takeaways:-
·
Demand outstrips supply for the second straight year
which shows a healthy market scenario
·
The unsold inventory came down to a five year low,
robust sales volume and controlled launches has eased off the unsold inventory
pressures
·
Premium market hit hard by slowdown, will require over
2 years to offload unsold inventory; new launches adding up on the pressure
·
West
Hyderabad remains the one of preferred market with maximum launches and sales.
·
Narsingi andPupalguda are new preferred micro-markets
for new launches in West Hyderabad.
Hyderabad Residential Market Trend:
Office Takeaways:-
·
Hyderabad
office market witnessed 140% growth in supply and 91% in absorption office
market as compared to the previous year
·
Hyderabad
reported a transaction of 2.8 million sqft in the first six months of the year
resulting in the great increase
·
Political
stability and newly released Telengana
IT policy wooing most of the IT/ITeS companies while the affordable
residential market entices the large talent pool
Hyderabad
office vacancy stands at 9.5% , prime
office markets like Madhapur and Hitec
city as low as 3.5-4%
·
Rental
appreciation goes up to 6% due to crunch in supply
·
IT/ITeS continues to outshine other industries
due to price competitiveness as compared to Bengaluru and Pune
Office New Completions and Absorption:
Speaking about the findings,
Vasudevan Iyer, Director- Hyderabad, said:
“The political stability has
indeed brought back resilience to the residential segment in Hyderabad. The
growth pattern can be ascertained now as the city has more demand as compared
to supply. The overall decrease in unsold inventory shows the healthy state of
the residential segment and we expect the trend to continue.
 |
| Knight Frank Director Vasudevan Iyer Briefs Media in Hyderabad. |
On the other hand, office
market exhibited brilliant performance with 2.8 million sqft absorption which
is close to 91% increase as compared to same period last year. While the crunch
in supply has brought down the vacancy level, at the same time it has increased
the rental values. The overall scenario looks much more positive and we expect
more investment in the office space and also hope that the festive season would
usher more sales in the residential segment in the second half of the year”.
About Knight Frank:
Knight Frank is the leading independent global
property consultancy. Headquartered in London, Knight Frank and its New
York-based global partner, Newmark Grubb Knight Frank, operate from 370
offices, in 55 countries, across six continents. More than 12,000
professionals handle in excess of US$1 trillion (£643 billion) worth of
commercial, agricultural and residential real estate annually, advising clients
ranging from individual owners and buyers to major developers, investors and
corporate tenants.
In India, Knight Frank is headquartered in Mumbai and
has more than 1000 experts across Bangalore, Delhi, Pune, Hyderabad, Chennai,
Kolkataand Ahmedabad. Backed by strong research and analytics our experts work
with clients to offer a comprehensive range of real estate services across
advisory, valuation and consulting; transactions (residential, commercial,
retail, hospitality, land, capitals); facilities management; and project
management.
For futher information please contact:-
|
Abanti Banik
Manager
– PR & Branding
Knight
Frank India
+91
99729 98403
|
DayanandG
Blue Lotus (For knight Frank India)
+919849 122317
|
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