Telangana - Hyderabadis choosing spacious apartments
Demand for spacious flats in the city is increasing, with hyderabad registering the largest average flat data-size last year at 2,300 sft, showing that homebuyer demand in this rapidly rising metropolis is heavily skewed towards luxury homes defined by larger data-sizes. According to Anarock Property Consultants' figures, typical apartment data-sizes in the city have increased by 30% every year and 35% every five years. It was 1,700 square feet in 2019 and 1,775 square feet in 2022.
Hyderabad's pattern is similar to that of the other top seven cities. According to the most recent data, the average data-size of a housing unit in an apartment throughout these cities increased by 11%, from 1,175 square feet in 2022 to 1,300 square feet in 2023. "The availability of larger luxury residences has expanded dramatically. More than one lakh units, or around 23% of all new debuts in 2023, were in the premium category. The epidemic sparked demand for larger houses, and it shows no signs of abating three years later," says Anuj Puri, Chairman of Anarock Group.
Mumbai Metropolitan Region (MMR) and kolkata were the only two cities where average housing data-size fell in the previous year. In MMR, average flat data-sizes fell 5% to 794 sft in 2023, while kolkata had a 2% annual fall to 1,124 sft. In terms of biggest growth, the National capital Region (NCR) witnessed a 37% increase in the past year, as well as the highest increase in average flat data-size in 2023 (51%), followed by hyderabad (35%).
Hyderabad's pattern is similar to that of the other top seven cities. According to the most recent data, the average data-size of a housing unit in an apartment throughout these cities increased by 11%, from 1,175 square feet in 2022 to 1,300 square feet in 2023. "The availability of larger luxury residences has expanded dramatically. More than one lakh units, or around 23% of all new debuts in 2023, were in the premium category. The epidemic sparked demand for larger houses, and it shows no signs of abating three years later," says Anuj Puri, Chairman of Anarock Group.
Mumbai Metropolitan Region (MMR) and kolkata were the only two cities where average housing data-size fell in the previous year. In MMR, average flat data-sizes fell 5% to 794 sft in 2023, while kolkata had a 2% annual fall to 1,124 sft. In terms of biggest growth, the National capital Region (NCR) witnessed a 37% increase in the past year, as well as the highest increase in average flat data-size in 2023 (51%), followed by hyderabad (35%).