Hyderabad's Residential Market
Homebuyers are showing a strong affinity towards premium living, with 3 BHK units capturing an impressive 68% share of the market in Q2 2024. Furthermore, the absorption share of the premium-luxury segment has increased to 62% from 57% in Hyderabad. Urban homebuyers are showing a preference for larger apartments with top-notch amenities, especially expansive green spaces, offering a blend of nature, technology and sustainable designs.
Hyderabad’s Housing Prices
The price growth in Hyderabad has surged lately. The city witnessed an annual rise of 7% in housing prices during Q2 2024 with the highest surge in the Southwest region of the city, amid sustained residential demand. The housing prices in the city are projected to continue an upward trend as a result of rapid urbanization, favourable government policies, rising disposable incomes, and increased investments, especially from the IT/ ITes, manufacturing, and pharma sectors, as well as demand from the UHNIs, HNIs, and NRIs.
City’s Top Real Estate Hubs
Western Hyderabad is emerging as one of the top residential hubs in the city, with Tellapur being a favourable micro-market for developers. Gundlapochampally in the North, Pocharam in the East, and Shamshabad in the South are gaining traction, with developers launching new projects in these micro-markets. Other micro-markets such as HITEC City and Kokapet in Hyderabad are attractive destinations for corporates, owing to strong infrastructural development, excellent connectivity, and proximity to business centres.
Hyderabad's Future Growth
Seamless connectivity provided by the Outer Ring Road project, enhanced transportation options, and the rise of HITEC City, Pharma City, and industrial parks have contributed to Hyderabad's remarkable momentum in infrastructural improvements over the past decade. Numerous strategic residential and commercial projects are on the horizon, poised to benefit from the city’s ongoing smart infrastructure and sustainable development.
A notable trend in Hyderabad is the robust year- on-year increase of new launches, almost 31% in Q2 2024 compared to Q2 2023, despite some impact from the elections.
