Real estate in Hyderabad is booming as property sales rise
Move over Mumbai and Bengaluru — Hyderabad’s real estate market is on the rise! The City of Pearls has emerged as a hotspot for real estate investments, with the residential market witnessing a surge in registrations of home sales in February.
And, why not? Hyderabad is a city that has it all — from the picturesque Charminar and the serene Hussain Sagar to the buzzing IT corridor. The city is the perfect blend of history, culture and modernity.
According to a recent study by Knight Frank India, Hyderabad recorded registrations of over 5,000 units of residential properties in February, with a total value of over Rs 2,800 crore. What’s more, the market is showing signs of growth even in the face of rising interest rates. The stability in registrations in the Rs 25-50-lakh category and the increase in high-value property registrations over the previous year are clear indicators of the city’s upbeat outlook.
The study shows that the demand for larger ticket-size homes is on the rise, with the cumulative share of sales registrations for properties with a ticket size of Rs 1 crore and above increasing to 10 per cent in February 2023 from 8 per cent in February 2022.
The share of registrations sized 500-1,000 sft has also seen an increase, indicating that smaller homes are in demand as well. “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 booming IT industry and rapidly expanding infrastructure have attracted people from across the country, leading to an increase in demand for homes. And with a relatively lower cost of living compared to other metropolitan cities, Hyderabad has become a top choice for homebuyers looking for quality living at an affordable price.
The growth in the real estate market is not limited to just one district — the study shows that home sales registrations in the Medchal-Malkajgiri district were recorded at 43 per cent, followed by Rangareddy district at 39 per cent. Even Sangareddy is witnessing a surge in sales, with the weighted average prices of transacted residential properties increasing by 9 per cent YoY in February 2023.
All in all, Hyderabad’s real estate market is on the rise and shows no signs of slowing down. From affordable housing to high-value properties, the city has something to offer to everyone.