Hyderabad Real Estate Market Soars with 7% Growth in 2024

Hyderabad's residential real estate market continued its upward trajectory in 2024, demonstrating remarkable resilience and growth. According to a report by Knight Frank India, the city registered a 7% year-on-year (YoY) increase in home sales, alongside a 23% surge in total transaction value, highlighting the sustained confidence of buyers in this booming sector.

In 2024, 76,613 properties were sold, a significant rise from 71,912 units in 2023 and 68,519 units in 2022. December 2024 further exemplified this momentum, with 5,805 properties registered, reflecting a 5% month-on-month (MoM) growth in sales. However, YoY data for December showed a 20% decline in registrations, with the total value of homes sold standing at ₹3,590 crore—a 2% MoM growth but a 14% YoY drop.

Hyderabad’s Diverse Real Estate Market

The city's real estate market spans the districts of Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy, encompassing both primary and secondary sales. Of these, Medchal-Malkajgiri led with 42% of total registrations, closely followed by Rangareddy at 41%. Hyderabad district accounted for the remaining 17% of registrations, reflecting the region's varied property trends.

Buyer Preferences Reflect Market Diversity

The market's pricing and area preferences revealed the diversity among homebuyers. Properties under ₹50 lakh dominated sales, with 45,605 registrations, while homes priced between ₹50 lakh and ₹1 crore accounted for 19,964 registrations. High-value properties exceeding ₹1 crore saw 11,044 registrations, signaling the growing demand in premium segments.

In terms of size, 69% of buyers preferred homes between 1,000 and 2,000 sq. ft., showcasing a preference for mid-sized homes suitable for families. Smaller homes between 500 and 1,000 sq. ft. accounted for 14%, while 11% of sales comprised larger properties ranging from 2,000 to 3,000 sq. ft. Ultra-compact homes under 500 sq. ft. and expansive spaces exceeding 3,000 sq. ft. each represented 3% of total registrations.

Resilience and Confidence in Hyderabad’s Real Estate

Knight Frank India's Chairman and Managing Director, Shishir Baijal, commended Hyderabad's robust market performance. He emphasized the city’s ability to attract affluent buyers, reinforcing its reputation as a prime destination for premium living and lucrative investments. “The sustained momentum in the high-value segment underscores the confidence of buyers in Hyderabad’s thriving residential market,” Baijal remarked.