Telangana Hyderabad - Rental real estate sees dip in house rent growth
In the second quarter of 2024, Hyderabad's rental real estate market saw a decline in the rise of home rent. The quarterly rental increase fell to between 2-4 percent in Q2 2024 in other leading cities as well, from 4-9 percent in Q1 2024.
Rental real estate in hyderabad sees a decline in house rent growth to 3 pc
In the second quarter of 2024, average rents in HITECH City and Gachibowli increased by 3 percent apiece over the previous quarter, according to a study released by real estate services company ANAROCK. In these two markets, the average quarterly rent increase in Q1 2024 was 5%.
An increase in supply is the reason for the decline in growth. The extremely speculative residential rental rise is leveling out as more fresh supply enters the marketplace.
The research states that whereas 20,500 units were built in 2023, 34,770 units are expected to be constructed in hyderabad by the end of 2024.
An increase in supply is the reason for the decline in growth. The extremely speculative residential rental rise is leveling out as more fresh supply enters the marketplace.
The research states that whereas 20,500 units were built in 2023, 34,770 units are expected to be constructed in hyderabad by the end of 2024.
Rental price growth drops by 50 pc in top cities
House rent growth has slowed not just in hyderabad but in other cities' rental real estate markets as well.
"In India, the second quarter of most years typically sees rents increase more than in other quarters due to the start of the new academic year and the employment of new staff," says Santhosh Kumar, Vice Chairman of ANAROCK Group. This year, these areas are seeing a significant influx of new home supply at the same time as a falling increase in rental values.
"In India, the second quarter of most years typically sees rents increase more than in other quarters due to the start of the new academic year and the employment of new staff," says Santhosh Kumar, Vice Chairman of ANAROCK Group. This year, these areas are seeing a significant influx of new home supply at the same time as a falling increase in rental values.
Following are the house rents in top cities in India: