Vizag among top 3 tier-II cities with Real Boom!

The state division may have worked in favour of the real estate in Vishakapatnam. The real boom is so big that the port city emerged as third top 19 tier-II cities on the basis of substantial rate of real estate construction and new launches followed by significant sales. Only Kochi and Nasik are ahead of Vishakapatnam in the list. This was revealed by the latest annual report by analytics firm PropEquity on top 19 tier-II cities of India.

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In the study, they have take 10 key parameters in to consideration. Some of them are price, supply, absorption, inventory, and new launch trends. They also considered the execution delays and the size of the market in value terms while deciding the rankings.

The report also said Visakhapatnam witnessed a 53% jump due to improvement in both the number of units sold and average price of units sold. The Port City also performed exceedingly well with 41% absorption of residential units implying solid demand for sales.