In recent years, the real estate market in Hyderabad has experienced a significant transformation, propelled by robust fundamentals and a consistent upswing in demand. Notably, a prominent trend is the growing desire for luxury housing in both the city and its surrounding areas. This surge in demand for upscale residential properties reflects the evolving preferences of discerning homebuyers in the region.
Indeed, Hyderabad witnessed an astonishing surge in sales on a year-on-year basis, boasting an incredible 14-fold growth rate. Comparing the luxury unit sales in the first half of 2022, which amounted to 100 units priced at Rs 4 crore and above, the corresponding period in 2023 experienced a remarkable escalation, with the figures skyrocketing to an impressive 1,400 units sold. This noteworthy increase underscores the escalating demand for luxury properties in the city during the mentioned time frame.
CBRE South Asia, the foremost real estate consulting firm in India, has recently released its Jan-Jun'23 residential sector data analysis. The report highlights significant trends observed across various segments in the residential sector across the country's top seven cities.
As per the CBRE South Asia report, the luxury housing segment in India demonstrated robust sales momentum, achieving an impressive 130 percent Year-on-Year increase during the January-June 2023 period.
Among the top-performing cities in terms of absolute sales, Delhi-NCR, Mumbai, and Hyderabad emerged as prominent luxury housing markets. Together, these cities accounted for nearly 90 percent of the total luxury housing sales across the top seven cities in India.
According to the CBRE report, Hyderabad witnessed the most significant percentage increase in sales on a year-on-year basis, with an astounding nearly 14-fold growth, resulting in a total of 1400 units sold. Following closely, Pune experienced an impressive nearly six-fold increase in sales, while Delhi-NCR observed a remarkable over three-fold jump in sales on a Year-on-Year basis.
The luxury housing segment across the top cities continued to exhibit a similar trend during the April-June'23 quarter, with a substantial 121 percent year-on-year increase in sales. During the quarter, there were a total of 3,100 luxury housing units sold, which represents a considerable increase compared to the 1,400 units sold during the same quarter in the previous year. This surge in sales highlights the sustained demand for upscale residential properties in these cities.
As per the CBRE South Asia report, Delhi-NCR, Mumbai, and Hyderabad stood out as prominent luxury housing markets during the quarter. Notably, Hyderabad witnessed an astounding 20-fold increase in luxury sales, while Delhi-NCR experienced a significant three-fold jump in sales. These remarkable figures reflect the growing appeal and demand for luxury properties in these cities during the specified quarter.
According to the CBRE South Asia report, Delhi-NCR, Mumbai, and Hyderabad, they emerged as prominent luxury housing markets during the quarter. Notably, Hyderabad witnessed an astonishing 20-fold increase in luxury sales, while Delhi-NCR experienced a significant three-fold surge in sales. These remarkable figures underscore the escalating appeal and demand for luxury properties in these cities during the specified quarter.
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