Real estate trends in Hyderabad show the market has indeed been steadily expanding, with increased demand for residential and commercial buildings. The state government’s efforts to enhance infrastructure and increase connections have aided the real estate industry, and the city is also home to numerous important IT firms, which attract a huge number of employed professionals.
Highlights of Hyderabad real estate:
- Robust infrastructure is a driving force behind the growth of the real estate market in Hyderabad.
- Thriving real estate trends in Hyderabad and an IT and business hub are features of the city’s emergence as a major IT hub and a catalyst for the real estate boom.
- An investment-friendly city, no doubt.
- Government initiatives do add an interesting dimension to Hyderabad real estate.
- Cultural Heritage and Modern Amenities.
The real estate landscape in Hyderabad is showing signs of prosperity. There has been a significant increase in residential property rates compared to earlier years.
The Indian housing construction sector has, of course, accomplished remarkable work in 2023. With global impact on the property real estate scene in Hyderabad and also consistent growth in property rates, the Indian housing construction sector’s advancement in 2023 is quite significant.
Reports do highlight interesting developments about the housing construction sector’s performance in 2024. It has been revealed that exciting developments and rising interest in this area have been achieved. As compared to other major cities in the country, residential property rates did see an increase in the past year. Stability has been observed in the demand in the housing construction sector. Such stability does indicate a probable increase in luxury housing demand in 2024.
Mumbai, Bangalore, Pune, Delhi, and Hyderabad dominated the total residential absorption in 2023. Also, new residential units entered the Hyderabad market in 2023 as compared to the past.
In the previous five years, property prices in Hyderabad have increased by a maximum of 10% each year. Despite this, it does remain a cheap city in India for purchasing real estate.
The real estate reports do show a better market scenario.
Hyderabad Real Estate Overview 2024
Hyderabad’s commercial market does witness tremendous growth despite the nationwide economic slowdown in 2019, a six-quarter decline in GDP, and the longest spell in 23 years of history. Amid tough times, the office space sector had scaled up. HiTech City and Gachibowli have contributed to the absorption of these office spaces. The annual supply has indeed doubled the five-year-old average supply. This demonstrates the city’s potential. The expansion of tech giants such as Facebook, Microsoft, and Intel spurred the demand.
IT-ITeS occupiers continue to be the primary demand driver for office space in Hyderabad. Manufacturing and industrial occupiers have also gained market share. Co-working providers account well for the office leasing market.
Not less is the residential market, with the newly launched projects and successful sale history implying positive market trends. below.
Hyderabad Real Estate Market 2024
Similar to all the cities, Hyderabad experienced a halt in the transactions and construction of the projects due to the lockdown. But there is no doubt the city has bounced back, with sales recording positive growth.
Conclusion
Hyderabad has indeed a major share in the country’s office space absorption, judging by real estate trends in Hyderabad. The city has shown that the least unsold inventory among the leading cities’ markets in the country is a factor to reckon with. This stands as a testimony to the strong sales that the city has witnessed.
Let us get to each of the markets in detail.
