 "Hyderabad's real estate sees robust growth in 2024 despite year-end dip")
Hyderabad's real estate market exhibited strong growth in 2024, with home sales registrations rising by 7 per cent compared to the previous year, according to the latest report by Knight Frank, a global real estate consultancy firm. The total transaction value also experienced a sharp 23 per cent year-on-year increase.
However, December 2024 saw 5,805 registered properties, reflecting a 5 per cent increase from November but a 20 per cent decline compared to December 2023.
The total value of properties registered in December amounted to Rs 3,590 crore, marking a 2 per cent month-on-month increase but a 14 per cent year-on-year decline.
Shishir Baijal, Chairman and Managing Director of Knight Frank India, emphasised Hyderabad’s market resilience.
"This trend reflects a rising preference for premium and luxury living, driven by Hyderabad’s strong economic fundamentals and the growing aspirations of homebuyers. Developers are responding proactively to this demand by launching upscale projects tailored to evolving market needs. The sustained momentum in the high-value segment underscores the confidence of affluent buyers in Hyderabad’s thriving residential real estate market, reaffirming the city’s position as a hub for premium living and investment opportunities," Baijal told The Economic Times.
The report also revealed that the majority of registered properties in 2024 ranged from 1,000 to 2,000 square feet, comprising 69 per cent of the total. Larger homes of 2,000 square feet or more accounted for 14 per cent, highlighting an increasing preference for premium and luxury living.
At the district level, Medchal-Malkajgiri and Rangareddy emerged as the leading areas for registrations, contributing 42 per cent and 41 per cent of the total, respectively. The average property price in December 2024 rose by 6 per cent year-on-year, with Medchal-Malkajgiri witnessing the largest price increase of 14 per cent.
The market also observed growing interest in larger, more luxurious homes. The top five property deals in December involved properties over 3,000 square feet and valued at more than Rs 5.5 crore.