Hyderabad: In Hyderabad, the sale of housing units climbed by 23% from January to June 2022 compared to the same period a year earlier, with the most significant growth rate in the previous 11 years.
According to a report, India Real Estate by Knight Frank India, 14,693 housing units were sold in Hyderabad during the first half of 2022 compared to 11,974 in the first half of 2021.
IT employees mostly own houses in Hyderabad. They did not face any problems during the Covid-19 pandemic. They played a vital role in keeping the real estate market stable in the city.
Hyderabad is no longer a market where houses can be found at low prices. It has become a favourite destination for many customers and investors. The report revealed that in the first half of 2022, habitable house prices increased by 4.2 per cent.
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Additionally, the IT industry buoyed Hyderabad's office space transactions, showing the corporate community's sustained confidence in Hyderabad as a top investment location. According to the report, 0.8 million square feet of office space was transacted in the first half of 2021, increasing to 1.2 million in the first half of 2022.
The office market saw a 101 per cent increase in transactions to 3.2 million this time from 1.60 million square feet last year. New office construction is 5.3 million square feet. Banking, financial services and insurance sector share transactions increased by 12 per cent.
(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com//amp)