Despite the frenzied real estate market, Hyderabad maintains consistency in residential property registration in April 2023.
Knight Frank India's recent report reveals that 4,398 apartments, worth Rs 2,230 crore, were registered in April, indicating Hyderabad's thriving residential market. The city is now a sought-after destination for both investors and homebuyers.
Notably, 54% of the registered homes in April 2023 fall within the Rs 25-50 lakh price range, indicating Hyderabad's appeal to a diverse group of buyers, including budget-conscious and luxury-seekers.
Moreover, the report indicates that 69% of the registered sales were for homes ranging from 1,000-2,000 sq ft, implying that Hyderabad's residents seek upgraded homes with increased space and amenities.
The report also breaks down the registrations by district, revealing that the Medchal-Malkajgiri district had the highest home sales registration at 47%, followed by Rangareddy district at 38%, and Hyderabad district at 14%. This evenly distributed demand for residential properties across the city and its neighboring districts indicates Hyderabad's potential as a prime location for real estate investment.
The report on real estate market trends highlights a YoY decline of 0.3% in the weighted average prices of transacted residential properties in April 2023. Hyderabad's market price surge was the highest at 9% YoY, indicating a greater sale of higher-priced homes. Additionally, the Medchal-Malkajgiri market experienced a 2% price growth during April 2023.
According to Samson Arthur, Senior Branch Director at Knight Frank India, the latest findings indicate that the market still appeals to homebuyers, particularly for larger homes.
Samson Arthur also stated that "the surge in registrations was for homes ranging from 1,000-2,000 sq ft, which showcases the demand for larger homes with upgraded amenities and space."
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