Hyderabad has emerged as the go-to destination for luxury housing in India, surpassing all other cities in the country.
In a significant development, Hyderabad has witnessed a shift in its real estate market, with sales of high-end homes priced above Rs 1.5 crore surpassing the demand for affordable homes priced below Rs 40 lakhs for the first time.
The State’s capital witnessed an extraordinary surge in new luxury housing supply, with approximately 14,340 units hitting the market in the third quarter of 2023.
Hyderabad outperformed all other major Indian cities, securing the highest supply of new luxury housing in Q3 2023, highlighting a significant shift in preferences among homebuyers, as luxury housing continues to grow in popularity.
In Q3 2018, a mere 210 luxury units were introduced in the city. Fast forward to Q3 2023, and Hyderabad boasts a staggering 14,340 luxury units.
Sales have surged in Hyderabad driven by post-pandemic homebuyers who are looking for larger homes with top-notch amenities and prime locations.
However, homes priced at or under Rs 40 lakhs have decreased further in the seven major cities, including Hyderabad. Whereas the demand has grown for homes priced Rs. 1 crore or more.
