In the dynamic landscape of Hyderabad’s real estate sector, the fourth quarter of 2023 witnessed an astounding 98% surge in residential property demand, as highlighted by the latest research report from PropTiger.com. This surge contributed to a substantial 49% Year-on-Year (YoY) growth, signaling robust expansion within the sector.
1. Upward Trend in Housing Supply
The supply of new residential units experienced a notable uptick, recording a 9% YoY growth during the final quarter of 2023. This surge in supply was particularly prominent in emerging micro markets such as Tellapur, Kokapet, and Nanakramguda. Developers strategically focused on these burgeoning areas, reflecting a keen eye on emerging hotspots within the city. Impressively, seventy-six percent of the newly launched units fell within the premium bracket of over ₹1 crore, with 56% of units sold occupying the same price range.
2. Capital Values Surge
In tandem with the rise in demand and supply, capital values in Hyderabad surged by 10% YoY during the fourth quarter of 2023. This growth underscores the city’s resilience and allure to both investors and homebuyers alike. With prices ranging between ₹6,700 and ₹6,900 per square foot, Hyderabad’s real estate market portrays a robust and sustainable growth trajectory. This growth trajectory mirrors similar trends observed in key metropolitan cities such as Bengaluru, which also experienced a 10% YoY increase in capital values.
3. Positioning Hyderabad as a Prime Investment Hub
Vikas Wadhawan, the business head of PropTiger.com, emphasized, “The 10% YoY increase in capital values solidifies Hyderabad’s position as a prime investment destination, alongside other major cities in India.” This assertion underscores the city’s growing prominence in the real estate landscape.
4. Emerging Trends and Anticipated Momentum
Ankita Sood, Head of Research at Housing.com and PropTiger.com, provided valuable insights, stating, “Our analysis indicates that the majority of residential sales and launches are concentrated along the Outer Ring Road, particularly in localities such as Tellapur, Kokapet, and Bachupally.” Given the peak demand witnessed in 2023, there is strong anticipation for this positive momentum to persist in the forthcoming quarters.
In conclusion, the surge in residential real estate demand, coupled with the strategic focus on emerging markets and the steady rise in capital values, underscores Hyderabad’s growing stature as a vibrant real estate hub. As the city continues to attract both investors and homebuyers, the outlook remains optimistic for sustained growth and development in the coming years.
