Hyderabad residential market riding high on stability; office market exhibits stellar performance: Knight Frank India

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 more information, visit www.knightfrank.com

For futher information please contact:-
Abanti Banik
Manager – PR & Branding
Knight Frank India
+91 99729 98403
Blue Lotus (For knight Frank India)
+919849 122317


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