Hyderabad Residents Favor 2BHK Homes Amid Rising Property Prices

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    Hyderabad’s real estate market continues to defy economic challenges, as indicated by the recent ANAROCK Consumer Sentiment Survey for the first half of 2023. Despite increasing property prices and interest rate hikes over the past year, residents of the city are demonstrating a clear preference for mid-range and premium homes.

    The survey’s findings highlight a noteworthy trend – Hyderabad residents are gravitating towards 2BHK and 3BHK homes. According to the ANAROCK survey, 47 percent of respondents expressed a strong inclination towards 2BHK units, while 45 percent favored the slightly larger 3BHK homes.

    Delving into the budget preferences, the real estate services firm revealed that in Central Hyderabad, a 2BHK home typically ranges from Rs 85 lakh to 1 crore. In East Hyderabad, budget-conscious buyers can secure a 2BHK unit for a more affordable price of Rs 45 lakh to 55 lakh. North Hyderabad offers 2BHK homes in the range of Rs 50 lakh to 60 lakh, while in the southern region, prospective homeowners can find comfortable 2BHK dwellings for approximately Rs 40 to 50 lakh. West Hyderabad, on the other hand, opens the doors to premium 2BHK living with a budget of Rs 60 to 70 lakh.

    Additionally, the ANAROCK report for the first half of 2023 has revealed a significant surge in home sales in Hyderabad. A total of 27,800 homes were sold during this period, marking an impressive 14 percent increase compared to the same period last year. This resilience in the real estate market showcases Hyderabad’s enduring appeal among homebuyers despite economic uncertainties.

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