The Real estate consultancy major Knight Frank had released its report about the first half of 2014. The report said that the sales for residences have gone down by over 27 percent to 7300 units in Hyderabad. Knight Frank is of the opinion that the political instability in the state aided the dip in the fall of the sales. Similarly there is also a dip as well in office market with 25 percent fall in the first half compared to the same time last year.
However Knight Frank expects the market to pick-up in the second half of the year with the onset of the festive season. New projects launch are expected to rise by 25 per cent while the corresponding absorption levels will increase by 15 per cent in the second half. However 2014 will likely to see a deficit of 8 per cent. Realty market pins high hopes on the first phase of Hyderabad metro rail and the outer ring road to boost the real estate business in the city for the next two years.
