Hyderabad’s Residential Sales Reach Record High Amidst Lifestyle Upgrades
Hyderabad January 04
In a notable surge, Hyderabad’s residential market witnessed a 6% year-on-year increase in annual sales during 2023, reaching an unprecedented 32,880 units, as revealed in the latest report by Knight Frank India.
The upswing in sales is attributed to homebuyers emphasizing lifestyle enhancements, showcasing a clear inclination towards amenity-rich communities situated in well-established areas. According to Knight Frank India’s “India Real Estate – Residential and Office Market Report,” nearly half of the 32,880 transactions in 2023 fell within the premium ticket segment, valued at Rs 10 million and above.
The report highlighted a noteworthy shift in preferences, with developers launching a total of 46,985 units in 2023. Impressively, 43% of these launches were for homes valued over Rs 10 million. The city’s flourishing economy and sustained demand for luxury housing are anticipated to be pivotal factors driving this ongoing trend towards higher-value real estate transactions. Transactions in this premium segment surged by an impressive 38% year-on-year in 2023.
Joseph Thilak, National Director – Occupier Strategy and Solutions, Hyderabad, at Knight Frank India, remarked, “The prevailing trend in Hyderabad’s residential market revolves around the increasing necessity to upgrade primary dwellings to apartment complexes that offer expanded space and enhanced amenities.”
