Hyderabad Real Estate Trends: Shift Towards Smaller Flats
Hyderabad homebuyers opting for smaller apartments, average size drops by 13% in two years
Hyderabad Real EstateSmaller FlatsAnarock Property ConsultantsLuxury SegmentApartment SizeReal Estate NewsAug 11, 2024
Between 2023 and the first six months of 2024, Hyderabad is the only major Indian city that saw its average apartment size drop by 13%, according to Anarock Property Consultant’s latest study.
In other cities, the flats got bigger by anywhere between 1% (in Pune) and 96% (in NCR) during this same period. But despite the shrink, the average size of apartments in the city – known for sprawling homes – continues to be over 2,000 square feet (sft), the report adds.
In fact, if a five-year period is considered, Hyderabad recorded an 18% increase in size – from 1,700 sft in 2019 to 2,010 sft in 2024. The drop was seen only in the last two years.
Experts attribute it to various reasons deliberate cutdown on size to cater to a larger pool of buyers and slowdown in the luxury segment.
“The new supply added in the luxury category in H1 2024 (January to June) has been relatively lower as compared to the same period a year ago,” said Santhosh Kumar, vice-chairman, Anarock Group.
He added “Last year, out of the total new supply of nearly 76,350 units in Hyderabad, over 41% were in the luxury segment while in H1 2024, the share stood at nearly 29% of the total 36,710 units launched. One key feature of a luxury home is its large size. Hence, we saw a dip in average sizes in the city.”
Among the top seven cities, NCR overtook Hyderabad to record the highest average flat size of 2,450 sft during the first six months of 2024.
About Anarock Property Consultants
Anarock is a leading real estate consultant in India, providing services such as residential and commercial property sales, marketing, and research.
Frequently Asked Questions
What is the trend in Hyderabad's real estate market?
Hyderabad homebuyers are opting for smaller flats, with the average apartment size dropping by 13% in two years.
What is the average size of apartments in Hyderabad?
The average size of apartments in Hyderabad is over 2,000 square feet (sft).
What is the reason for the decrease in average apartment size in Hyderabad?
Experts attribute it to various reasons: deliberate cutdown on size to cater to a larger pool of buyers and slowdown in the luxury segment.
Which city has the highest average flat size among the top seven cities?
NCR has overtaken Hyderabad to record the highest average flat size of 2,450 sft during the first six months of 2024.
What is Anarock Property Consultants?
Anarock is a leading real estate consultant in India, providing services such as residential and commercial property sales, marketing, and research.
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