Hyderabad’s real estate market has shown signs of slowing down in 2024, as unit sales in the first half of the fiscal year experienced a notable decline. According to the latest ANAROCK data, between April and September 2024, the city saw a drop of nearly 7 per cent in the number of homes sold compared to the same period in 2023. Despite a sharp rise in the average ticket size of homes sold — up by 37 per cent, from Rs 84 lakh to Rs 1.
15 crore — the total volume of units sold fell from nearly 30,000 to just over 27,800. This drop in sales volume suggests that the once-booming luxury real estate market in the city may be facing a cooling period. The city’s performance stands in contrast to the ongoing boom in other major cities.
Bengaluru, for instance, recorded a 44 per cent increase in the average ticket size of homes sold, while NCR saw a staggering 56 per cent rise. Hyderabad, (adsbygoogle = window.adsbygoogle || []).
push({}); while witnessing a substantial growth in the value of homes sold, lagged behind in terms of the pace of growth. According to data, the total sales value in the city rose from Rs 25,059 crore to Rs 31,993 crore, yet this did not fully compensate for the decline in volume. The slowdown in Hyderabad’s real estate sales is further highlighted when compared to other cities in the top seven real estate markets across India.
NCR and Bengaluru have maintained strong growth in the luxury segment, driven by steady demand for high-value properties. NC.