Hyderabad sees sharp drop in sale of luxury homes

Hyderabad: There is a record drop in the sale of luxury homes constructed in the posh areas of Hyderabad which clearly indicates weakening of the purchasing power of the home buyers.  

A company undertaking property surveys across the country said that the home buyers are not showing interest in purchasing properties of more than Rs 2.5 crores.

There is a marked drop in luxury home sales in other cities like Mumbai and Kolkata as well.

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The builders and developers in Hyderabad are apprehensive of stagnation in the real estate market. However the sale of low cost properties are increasing in many cities of the country.

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