Hyderabad’s Residential Market Soars in June

The residential market in Hyderabad has been on an upward trajectory since the first half of 2023. In June 2023, the residential property market in Hyderabad saw an increase in registrations and total property value compared to the previous year. There were 5,566 properties registered, a 3% rise from the previous year, with a total value of Rs 2,898 crore, a 2% increase. The market includes four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.

Most property registrations were in the price range of Rs 25–50 lakh, accounting for 52% of the total registrations. Properties sized between 1,000 and 2,000 square feet made up 68% of the market, while properties between 500 and 1,000 square feet accounted for 17% of registrations.

The decision of the Reserve Bank of India to maintain interest rates since April 2023 has boosted buyer sentiment, making it favorable for homebuyers. Upgrading to apartments that offer more space and amenities has become a popular trend in Hyderabad’s residential market.

During June 2023, the average prices of residential properties witnessed a slight YoY increase of 0.3%. Hyderabad district had the highest price rise at 5% YoY, indicating a higher volume of higher-value homes sold in that area.

The real estate market in Central Hyderabad has experienced a significant rise in prices, with a 55% year-on-year increase. This can be attributed to factors such as its proximity to commercial hubs, improved infrastructure, and availability of amenities. Himayat Nagar, Somajiguda, Begumpet, and Ameerpet are some of the areas in Central Hyderabad that have seen notable price appreciation.

Overall, housing prices in Hyderabad have surged by 46% compared to pre-pandemic levels. In terms of price increases across all unit types, 4BHK apartments experienced the highest growth at 23% year over year.