Hyderabad Real Estate Market Sees Record-Breaking Growth in H1 2024
Hyderabad's real estate market witnessed a significant surge in the first half of 2024, with total home sales value touching ₹58,481 crore and 38,643 residential units being sold.
Hyderabad Real Estate MarketCre MatrixCredai HyderabadHome SalesResidential UnitsReal EstateAug 07, 2024
The number of residential units sold during the six-month period grew 148% to 38,643 compared to H1 2019. Meanwhile, 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.
A closer look at the data reveals that the ₹5-10 crore segment grew 449% while the above ₹10 crore category saw a 63x jump. The two brackets accounted for ₹4,727 crore and ₹4,861 crore respectively in home sales value during H1 2024.
The under ₹1 crore segment saw the highest number of units sold during the six-month period (17,997) while the ₹1-2 crore bracket recorded the maximum amount in total sales value at ₹19,534 crore.
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 2029 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.
The report notes that while the unsold stock is more than 1 lakh units in Hyderabad, the inventory will get absorbed in 16 months at the current sales pace.
About CRE Matrix
CRE Matrix is a leading real estate data analytics firm that provides insights and trends in the Indian real estate market.
About Credai Hyderabad
Credai Hyderabad is the Hyderabad chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI), a national body of private real estate developers.Credai Hyderabad and CRE Matrix have collaborated to provide this report, which highlights the trends and growth of the Hyderabad real estate market.
Frequently Asked Questions
What is the total value of home sales in Hyderabad during H1 2024?
₹58,481 crore
How many residential units were sold in Hyderabad during H1 2024?
38,643
What is the average value of an apartment in Hyderabad during H1 2024?
₹1.5 crore
Which segment saw the highest growth in home sales value during H1 2024?
₹5-10 crore segment
What is the current inventory overhang in Hyderabad?
1,03,316 units
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