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Increase In Demand Of House For Rent In Hyderabad Post Demonetization Move
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Now that people have halted their property buying decision due to demonetization, people are currently looking to take property on rent to fulfill their accommodation needs. The demand for property on rent has suddenly touched the roof and the owners are witnessing considerable rental appreciation. The same trend is also been seen in the city of pearls, as there has been a sporadic increase in demand of house for rent in Hyderabad. People who were looking to buy Bowenpally flats are now looking to take a property on rent in the same vicinity. Moreover, due to sudden increase in demand of rented properties, the commanded house rent in Hyderabad has seen good appreciation.
The owners of house for rent in Hyderabad are ecstatic about the prevailing situation. Most of them are pleasantly surprised at the unexpected turn of events. Most of the people who have invested in the city of pearls have not witnessed a significant price appreciation for quite some time. Earlier political uncertainty had hampered the capital appreciation of properties and later on oversupply of properties proved to be another hurdle in the path of price appreciation of properties. Most of the people who had invested in the city were unable to exit the real estate market, as there were no buyers in the market. The rental yield also until now was very low and investors mostly thought that properties that they had bought in the city were nothing but dead investments.
Nevertheless, the tables turned suddenly post demonetization, the same investors who though the properties were dead investments are now happy with the income that they are generating from house rent in Hyderabad. Although there is still no demand from buyers side to buy Bowenpally flats and other properties in the city but there is a huge demand for rented properties. Bowenpally flats and other properties in the city have seen a good rental appreciation in the last few months. Hyderabad is a job-generating city and therefore many people look to shift here in search of good job opportunities. Over the years due to high affordability, most of the people preferred to buy property here rather than staying in a house for rent in Hyderabad. But post demonetization many people are expecting that the property rates will drop and as a result many people have postponed their property buying decision which has led to increase in demand of house for rent in Hyderabad.
Makaan.com is a reputed real estate website that connects relevant people who want to perform transactions of house for rent in Hyderabad by bringing them on a common platform.
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