Hyderabad: The real estate in Hyderabad emerged as the second-most expensive market in 2022 due to a rise in home loan rates and property prices.
As per Knight Frank’s Affordability Index 2022, Mumbai is the most expensive real estate market wherein the home loan EMI of an average household is 53 percent of income.
Real estate in Ahmedabad, Gujarat is considered as the most affordable as home loan EMI to income percentage in the city is just 22 percent.
Home loan EMI to income percent in Hyderabad’s real estate
In Hyderabad’s real estate market, the home loan EMI to income is 30 percent in 2022. It is better when compared to affordability in 2019.
In the year before the outbreak of the pandemic, the home loan EMI to income percent was 34.
The percentage in NCR is 29 percent whereas, in Chennai and Bengaluru, it is 27 percent.
Top choice for NRIs
Despite being the second-most expensive market in India, Hyderabad’s real estate market has emerged as a top choice for NRIs.
The highest percent of NRIs residing in the US, Canada, Gulf, Europe, etc. prefer housing units in Hyderabad.
Why NRIs are preferring to invest in real estate market?
Despite the fact that stock and mutual funds give good returns when compared to investment in the real estate market, NRIs are preferring to buy homes in top cities like Hyderabad, Bengaluru, and Delhi-NCR.
One of the reasons behind it is their experience during COVID-19. During the pandemic, many of them especially those who were working in gulf countries lost their jobs forcing them to return to India.
As per a survey conducted recently, 71 percent of NRIs believe that investing in real estate is the best option. The percentage went up when compared to last year’s finding.
Out of the total NRI respondents, over 77 percent prefer bigger houses. Around 54 percent prefer 3BHKs whereas, 23 percent and 22 percent prefer 4BHKs and 2BHKs respectively.
