The real estate market in Hyderabad is growing at a rapid pace! The City of Pearls has emerged as a hotspot for real estate investments, with the residential market seeing an increase in home sales registrations in February.
And, after all, why not? Hyderabad has it all, from the picturesque Charminar and the tranquil Hussain Sagar to the bustling IT corridor. The city is the ideal combination of history, culture, and modernity.
According to a recent Knight Frank India study, over 5,000 residential property units were registered in Hyderabad in February, with a total value of over Rs 2,800 crore. Furthermore, despite rising interest rates, the market is showing signs of growth.
The consistency of registrations in the Rs 25-50 lakh category, as well as the increase in high-value property registrations over the previous year, are clear indicators of the city’s optimistic outlook.
According to the study, demand for larger ticket-size homes is increasing, with the cumulative share of sales registrations for properties worth Rs 1 crore and above increasing to 10% in February 2023 from 8% in February 2022.
The proportion of registrations sized 500-1,000 sft has also increased, indicating that smaller homes are in demand. “Hyderabad’s residential market continues to be driven by its diversified workforce and changing socioeconomic environment despite the rising interest rates,” says Samson Arthur, senior branch director, Knight Frank India.
The city’s thriving IT industry and rapidly expanding infrastructure have drawn people from all over the country, increasing demand for housing. And, with a lower cost of living than other metropolitan cities, Hyderabad has emerged as a top choice for homebuyers seeking quality living at an affordable price.
The growth in the real estate market is not limited to one district; according to the study, home sales registrations in the Medchal-Malkajgiri district were 43%, followed by the Rangareddy district at 39%. Sangareddy is also seeing an increase in sales, with weighted average prices of transacted residential properties rising by 9% YoY in February 2023.
Overall, the Hyderabad real estate market is performing well and shows no signs of slowing down. From affordable housing to high-value properties, the city has something to offer to everyone.
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