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Unveiling Hyderabad's Residential Real Estate Landscape: Q1 2024 Insights & New Supply Dynamics

REAL ESTATEJULY 1, 20241 min & 48 sec read
Unveiling Hyderabad's Residential Real Estate Landscape

Hyderabad, a beacon of progress in India's real estate scene, continues to flourish with its dynamic housing market, reflecting the city's vibrant economy and evolving urban fabric. Fueled by a robust IT sector, which attracts professionals from across the nation, Hyderabad offers an array of residential options, from modern apartments to luxurious villas, meeting diverse buyer preferences and budgets.

A Recap of the Previous Year

In 2023, Hyderabad witnessed a remarkable surge in residential sales, with a 49% year-on-year increase, totaling 52,571 units sold. Tellapur emerged as the top choice among homebuyers, showcasing the city's allure. However, new residential supply saw a slight dip of 7% year-on-year, with 76,819 units launched in 2023.

Trends in Pricing and Demand

Notably, 76% of the units launched were priced above INR 1 crore, indicating a focus on high-end properties. Correspondingly, 56% of the units sold belonged to this bracket, underscoring strong demand for premium offerings.

Positive Indicators in Q1 2024

In Q1 2024, residential sales surged by 40% compared to the previous year, reflecting robust demand. Despite a 30% decline quarter-on-quarter, such fluctuations are typical in real estate markets.

Observations on New Supply

Q1 2024 saw a 16% decrease in new residential supply compared to the previous year, with a steeper decline of 43% quarter-on-quarter. Despite this, Hyderabad maintained its position as the third-largest contributor to new launches nationwide, capturing a 15% share.

Looking Ahead

Hyderabad's housing market is poised for sustained growth, fueled by its dynamic economy and influx of skilled professionals. The city's ability to cater to diverse buyer preferences augurs well for future demand. However, developers must align new supply with market dynamics to ensure long-term sustainability.

Hyderabad's real estate landscape showcases resilience and promise. While new supply may have experienced a temporary slowdown, the city's strong demand fundamentals remain intact. With strategic adjustments, stakeholders can navigate fluctuations and capitalize on Hyderabad's burgeoning housing market.

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