The Rise of Hyderabad: Indias Top City for Residential Sales
The real estate market in Hyderabad has seen a significant increase in residential sales. According to Knight Frank India, there has been a 5% year-on-year growth in residential sales during the first half of 2023, with a total of 15,355 units sold. This growth rate is the highest among the top eight cities covered by Knight Frank India.
Hyderabad has emerged as the top real estate destination in India, with residential sales growing by 5% year-on-year. In contrast, cities like Mumbai and Bengaluru saw a decline in sales. Hyderabad also experienced the highest growth in residential prices, with a 10% increase year-on-year. Despite the rise in prices, the city remains attractive to both investors and end users. West Hyderabad, with its proximity to office locations and robust infrastructure, continues to be the preferred choice for homebuyers. Developers have launched a significant number of units in this area, with 42% of them valued at Rs 1 crore. Overall, residential sales have remained steady in Hyderabad, even during the Covid-19 pandemic, indicating positive buyer sentiment. The demand for residential properties in India has remained high, with H1 2023 posting the second-highest sales volume in almost 10 years. Mid and premium segment homebuyers have been the main drivers of market momentum.
