Telangana Hyderabad Housing - Rent Increased and Tenant Patterns
According to the NoBroker's January-June 2023 Real Estate study, tenant patterns in hyderabad have experienced major changes, which have been supported by an apparent increase in rental budgets. Rents have begun to rise as people seek closer proximity to their places of employment and as work schedules return to normal. According to the report's findings, the primary trend defining the first half of this year has been an increase in rental prices. This higher trend may be explained by inhabitants' growing inclination to live close to their places of employment.
There is a fierce rivalry for the restricted number of housing alternatives since there is a strong demand for houses adjacent to workplaces and technology parks and a limited supply of them. Many landlords took advantage of the chance to increase their rents by more than 20% by seizing the situation. It's interesting to note that this rise in rent costs is not just happening in Hyderabad. It is a widespread phenomenon. According to the research, a data-sizeable 66 percent of Hyderabadi renters said their monthly rent budgets had increased.
The increased inclination for larger lodging is another noteworthy trend in Hyderabad. This reflects changing residential choices, maybe as a result of the widespread adoption of longer hybrid work arrangements. Many respondents in hyderabad are increasingly choosing independent structures due to the dearth of homes within gated communities. Despite the greater expenses, 59% of residents of hyderabad preferred renting residences that were nearer to their places of employment or their kids' schools. A majority of the city's landlords (about 30%) have been seen raising rates to make up for rental losses incurred during the pandemic years.
Hyderabad – Most sought-after localities for rent
– Kukatpally
– Gachibowli
– Kondapur
– Miyapur
– Madhapur
Reasons for rent increase
1. Because others have increased – 23%
2. Because there is more demand – 19%
3. My EMIs have gone up due to increased interest rates – 28%
4. To make up for the lost rent during the pandemic years – 30%
(Source: NoBroker)
The increased inclination for larger lodging is another noteworthy trend in Hyderabad. This reflects changing residential choices, maybe as a result of the widespread adoption of longer hybrid work arrangements. Many respondents in hyderabad are increasingly choosing independent structures due to the dearth of homes within gated communities. Despite the greater expenses, 59% of residents of hyderabad preferred renting residences that were nearer to their places of employment or their kids' schools. A majority of the city's landlords (about 30%) have been seen raising rates to make up for rental losses incurred during the pandemic years.
Hyderabad – Most sought-after localities for rent
– Kukatpally
– Gachibowli
– Kondapur
– Miyapur
– Madhapur
Reasons for rent increase
1. Because others have increased – 23%
2. Because there is more demand – 19%
3. My EMIs have gone up due to increased interest rates – 28%
4. To make up for the lost rent during the pandemic years – 30%
(Source: NoBroker)