Introduction
According to the latest data from Anarac’s ‘Homebuyer Sentiment Report’ for the second half (July-December) of 2023, demand for extra-large homes with more rooms is on the rise. This represents a significant departure from previous trends.
Table of Contents
- Demand for Larger Living Spaces in Hyderabad
- Survey the Demand for the First Time
- Demand for 1BHK unit in Hyderabad
- Hyderabad BHK Preference
- Zone-Wise Average Budget for 2BHK
Hyderabad: Hyderabad’s skyline is changing as residents ditch the once popular 1BHK apartments in favor of spacious living spaces. like the 2 BHK apartments or apartments with more bedrooms.
According to the latest data from Anarac’s ‘Homebuyer Sentiment Report’ for the second half (July-December) of 2023, homebuyers are increasingly showing a preference for bigger homes. This marks a significant shift from previous trends and has the potential to transform the housing market.
Demand for Larger Living Spaces in Hyderabad
As life slowly returns to normal after the pandemic, the demand for larger living spaces in Hyderabad is on the rise. A recent report reveals that only 4 percent of respondents chose 1BHK units, while a significant 48 percent opted for 3BHK apartments as their preferred lifestyle. Close behind, 44 percent of respondents favored 2BHK apartments. With the escalating residential prices, investing in more spacious living quarters is a wise decision.
As life slowly returns to normal after the pandemic, the demand for larger living spaces in Hyderabad is on the rise. A recent report reveals that only 4 percent of respondents chose 1BHK units, while a significant 48 percent opted for 3BHK apartments as their preferred lifestyle.
Close behind, 44 percent of respondents favored 2BHK apartments. With the escalating residential prices, investing in more spacious living quarters is a wise decision. Interestingly, data is still relatively undemanding. Only 4 percent of respondents prefer 4BHK or above units.
Survey the Demand for the First Time
Anuj Puri, Chairman, Anarac Group, said, “Supply of large houses is smoothly following the demand for them. Average flat sizes in the top seven cities grew by 11 percent annually last year, Anarac data suggest. 1,175 sq. ft in 2022 to 1,300 sq. ft in 2023. This is the first time the survey has found such demand. Less than new launches for ready-made homes.
Demand for 1BHK unit in Hyderabad
Different zones in Hyderabad exhibit different budget ranges and average prices for 2BHK units. In central Hyderabad, the average budget range for a 2BHK apartment is Rs. 1 crore to Rs. Between 1.5 crores. The average price per square foot is Rs. 8,000.
Meanwhile, in East Hyderabad, the budget range is more affordable. It is Rs. 55 lakh to Rs. 70 lakhs. The average price per square foot is Rs. 4,750. Similarly, North Hyderabad offers 2BHK units for Rs. 55 lakh to Rs. 65 lakhs is offered. Average per square foot is Rs. 4,850. South Hyderabad and West Hyderabad also exhibit different budget ranges to suit different preferences and financial capabilities.
The real estate market in Hyderabad witnessed a significant increase in sales in the second half of 2023, with 33,900 homes sold. This represents a 46 percent increase over the same period last year. This underlines the strong demand for residential properties in the city.
Hyderabad BHK Preference
- 1BHK – 4%
- 2BHK – 44%
- 3BHK – 48%
- 4BHK & above – 4%
Zone-Wise Average Budget for 2BHK
Zone-wise average budget and average prices for 2BHK in Hyderabad are tabulated below.
| Zone-wise 2BHK | Average Budget for 2BHK (in Rs.) | Average Rate (Rs/sq. ft.) |
| Central Hyderabad | 1 crore to 1.5 crore | 8,000 |
| East Hyderabad | 55 lakhs – 70 lakhs | 4,750 |
| North Hyderabad | 55 lakhs – 65 lakhs | 4,850 |
| West Hyderabad | 65 lakhs – 90 lakhs | 6,550 |
| South Hyderabad | 45 lakhs – 55 lakhs | 4,800 |
Conclusion
Only 4 percent preferred 1BHK units. However, 48 percent opted for 3BHK apartments. 44 percent of respondents preferred 2BHK apartments. Don’t miss the opportunity to upgrade your lifestyle and invest in a bigger home today! For more information, visit openplot.