Hyderabad ranked number two in terms of luxury sales and supply in the second quarter (Q2) of 2022, while Mumbai topped the list of cities in India, as per a report.
The luxury housing segment has seen its share rise to 12 per cent in supply of all housing units in tier-1 cities in Q2 of 2022 against 8 per cent in the same quarter last year, says the report released by real estate research firm PropEquity.
According to it, the affordable segment had a share of 63 per cent in overall supply in Q2 2022 across all tier 1 cities while mid segment had a share of 26 per cent in overall supply. Q2 2022 saw a total supply of 77,941 units, out of which the largest share was of the affordable segment of about 48,993 units, followed by mid-segment share of 19,910 units and share of luxury units being 9,132 units. In terms of sales, Q2-2022 saw a total sales of 1,02,311 units, out of which the largest share was of affordable segment of about 64 per cent (65,173 units), followed by mid-segment share of 25 per cent (26,484 units) and share of luxury units being 10 per cent (10,654 units). For affordable housing, Thane was the best city in terms of supply and sales and for mid-segment Hyderabad led the ranking for sales.
“Demand for affordable housing in top metros are being in ways replaced by mid-segment and luxury housing as higher disposable income of nuclear families are looking for properties with premium amenities, larger built up area and in a well-developed location,” said Samir Jasuja, Founder and MD at PropEquity.