Hyderabad Real Estate Market Sees Record Sales of ₹58,000 Crore in H1 2024
Hyderabad witnesses a surge in housing sales, with 38,643 residential units sold in H1 2024, resulting in a total sales value of ₹58,481 crore.
Hyderabad Real Estate MarketHousing SalesCre MatrixCredai HyderabadReal Estate NewsReal Estate NewsAug 07, 2024
The report highlights that the average value of an apartment in the city increased by 44% to ₹1.5 crore during the period under review, from ₹1.1 crore in 2019. The ₹5-10 crore segment grew 449% while the above ₹10 crore category saw a 63x jump, according to the report.
Regionally, North-West Hyderabad was the clear winner, accounting for 62% of the total sales amount, or ₹36,276 crore during H1 2024. This market has grown at a compound annual growth rate of 25% in the total value of home sales between H1 2019 to H1 2024.
Interestingly, the launch of housing units in Hyderabad has steadily declined to approximately 22,000 in H1 2024 from approximately 50,000 in H1 2022. Simultaneously, the inventory overhang declined to 1,03,316 during the January-June period of 2024, from 1,19,245 in the year-ago period.
CRE Matrix is a real estate data analytics firm that provides insights on the Indian real estate market. Credai Hyderabad is a leading real estate industry association that represents the interests of developers and builders in the city.
The report notes that,
Frequently Asked Questions
What was the total sales value of residential units in Hyderabad during H1 2024?
₹58,481 crore
How many residential units were sold in Hyderabad during H1 2024?
38,643
What was the average value of an apartment in Hyderabad during H1 2024?
₹1.5 crore
Which region in Hyderabad accounted for the highest sales amount during H1 2024?
North-West Hyderabad
What is the estimated time for the absorption of unsold inventory in Hyderabad?
16 months
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