The upward swing for Hyderabad real estate market has begun. Not only have the sales of various companies picked up, but the prices of residential property too have increased 5-15 % in the last month. For example, Aliens Group reportedly has seen a steep increase of 20% in during the last month. With a long festive season ahead that started with Dushera, realty punts believe that the property market will witness heightened activity.
Historically, it is observed that the the festive season (September to December) is a buying period, with a large part of overall sales of the year happening during this time. Some developers like Aliens and Aparna are expecting to see as much as 30 % of the yearly sales taking place during the festive season. This inspite of residential prices increasing by 5-10 % from the bottom that it hit the other half of the year. If the developers continue to keep the prices without a steep increase then there is expected to be a renewed demand and interest in the customers.
Also, given that this is the time NRI come home on a holiday, major sales are expected to happen during this period. 2008-2009 has been a taxing period for the real estate market in Hyderbad and the initial signs of recovery are evident in the market. As the economy has stabilised and is back on the growth trajectory, there is a revived interest in buying homes by end users and this increase in confidence, better economy, favourable borrowing conditions, rationalised capital values amongst others which is promoting rising sales across India..
