If 2014 was a year of uncertainty in Hyderabad real estate, then 2015 is set to be the year of revival according to real estate experts. The sales volume had been down for most part of 2014 in the city. The market in Hyderabad is considered to be very affordable as prices for properties here are still very low.
One of the main factors which had brought the realty industry here to a halt was the tension that prevailed before the bifurcation of the state of Andhra Pradesh. With the bifurcation issue now settled, it was expected that the real estate situation in this city will start looking up. But the pace of recovery has been very slow. The buyer sentiment here is still not very positive and there is a lot of doubt about the future of the market here.
But with the birth of a new year this doubt and the negativity that home buyers seem to show towards this market will dissipate and the city will come out of the real estate rut most real estate experts feel. They are also of the opinion that now might be the best time to purchase properties such as flats and plots in Hyderabad the prices are still in the affordable category and can be picked up at cheap rates. This might not be the case as the year 2015 progresses as prices might increase since real estate predictions for this market say that the realty sector will be on the growth path.
The most happening micro markets in Hyderabad are located in the western and north eastern parts of the city. This is because most of the employment opportunities which are available in the city are centred in these areas. The Information Technology sector and the finance sector have a very strong presence in the micro markets located in these parts of the city. The micro markets which have most traction among buyers are Gachibowli, Kondapur, Miyapur, Manikonda, and Chandanagar. There are still large parcels of land available in these regions. So if a person is looking to buy plots in Hyderabad these are the areas which he can look at.
In 2014, 2 BHK apartments in Hyderabad were the most sought after apartment configuration among property buyers. 3 and 4 BHKs rounded out the top three choices. Medium sized flats were in demand as buyers lapped up flats which were sized between 1001 and 1250 square feet. This was followed by the 1251 to 1500 square feet range and the 751 to 1000 square feet range in the second and third place respectively.
The budget range which buyers were most willing to spend on apartments in Hyderabad here fell between INR 10 to 40 lakhs. Within this range the INR 20 to 30 lakhs segment was the most popular among home buyers. Buyers are willing to spend less than INR 2000 per square feet on flats in this city. This is testament to the fact that this market is still affordable.
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