Housing rents have surged by a substantial 25 per cent to 30 per cent in top micro-markets within major cities since 2019 and the rentals in Hyderabad are up by 25 per cent.
Published Date – 25 January 2024, 03:08 PM
Hyderabad: Housing rents have surged by a substantial 25 per cent to 30 per cent in top micro-markets within major cities since 2019 and the rentals in Hyderabad are up by 25 per cent.
According to a report released by Housing.com on Thursday, the average monthly rents for residential properties have experienced a notable uptick of 15 per cent to 20 per cent across major top eight cities compared to the pre-pandemic era of 2019.
However, the average monthly asking rents skyrocketed by 25 per cent to 30 per cent, with certain key localities in service sector dominant cities witnessing significant rent spikes exceeding 30 per cent during the same period.
Housing.com latest report titled ‘Residential Rents on the Rise! A report on rental property in India’ shows the growth in monthly average rent has been higher than the appreciation in capital values. Not only median rents, but there is a surge in demand for renting a home post pandemic as indicated by Housing.com IRIS index.
Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com & Makaan.com said, “the average price rise has been modest at a city level, but there have been sharp rise in some major locations of top cities.”
