About 90 percent of landlords in Hyderabad said that they trust families to rent out their homes in place of bachelors. This was revealed in the annual real estate report 2022 released by real estate platform NoBroker. The annual report broke down key trends that defined the real estate sector by combining platform data of 30 million users with survey responses from over 26,000 customers.
The report also stated that 59 percent of landlords from Hyderabad agreed to have increased their rents post-COVID, and 74 percent of them feel that it is easier to rent out their properties now than earlier. Over 84 percent of landlords in Hyderabad are looking to invest in a new property, followed by 90 percent in Bengaluru. Talking about price expectations of the sellers, the report found out that 56 percent of sellers from Hyderabad stated that the price expectation has increased post-pandemic, 35 percent said that their expectation has not changed and 9 percent said it has decreased. Over 68 percent sellers are facing difficulties while selling their properties.
The average 2BHK rent in the city increased from ₹16,057 in 2016 to ₹19,220 in 2022 and the most sought-after localities for renting are Kukatpally, Madhapur, Kondapur, Gachibowli, and Manikonda. About 59 percent of home seekers preferred semi-furnished homes and 41 percent of the people said the reason for renting a place in Hyderabad was due to change in workplace.
