The real estate market in Hyderabad continues to demonstrate strong growth and resilience, driven by several factors that position it favorably among India’s top cities.
- Affordability and Market Activity: Hyderabad is expected to maintain its status as one of the most affordable cities for home purchases in 2024. This is supported by projections indicating that the Home Purchase Affordability Index (HPAI) will remain at commendable levels, similar to those observed in 2022. The anticipated reduction in interest rates by the Reserve Bank of India is expected to enhance affordability further, fostering robust market activity throughout the year.
- Property Registrations and Sales: The city has seen significant property transactions, with 5,411 residential properties worth ₹3,279 crore registered in January 2024 alone. This trend underscores the high demand and active market dynamics in Hyderabad
- New Housing Supply and Price Increases: Hyderabad has experienced a substantial 60% annual increase in new housing supply, marking it as a standout performer in the Indian real estate sector. The city’s average residential property prices have risen by 18% year-on-year, the highest among the top seven cities in India. This increase is partly due to stable home loan interest rates and strong demand for housing.
- Economic Outlook and Developer Activity: The positive economic outlook and improved income prospects are supporting sustained residential price growth. Large and branded developers have a healthy pipeline of new projects, which is expected to keep the momentum in housing sales and new launches high through the festive quarters of the year.
Overall, Hyderabad’s real estate market is set for continued growth, driven by affordability, active property transactions, significant new housing supply, and strong economic fundamentals.
News by top news papers.