Hyderabad, August 11: In the realm of real estate, Hyderabad and Bengaluru are engaged in a noteworthy competition. Recent data unveils a surge in property prices in South India. An astonishing 100 crore was paid by a Hyderabad real estate firm for a single acre of land, setting a new record not only for the Charminar city but for all of Telangana.
This outstanding transaction prompts the natural query of whether investing in real estate in Hyderabad or Bengaluru is the wiser choice.
One crucial aspect that frequently emerges in the Hyderabad versus Bengaluru discourse is the discrepancy in living costs. Hyderabad boasts a cost of living around 26% lower than Bengaluru’s. This economic edge tilts the scale in favor of Hyderabad, despite Bengaluru’s reputation as the ‘Silicon Capital of India.’
A comprehensive report from the real estate management and consultancy firm Anarock underscores Hyderabad’s superior performance. The appreciation in average luxury home prices over the past five years was an impressive 42% in Hyderabad, markedly surpassing the 27% observed in both Bengaluru and the Mumbai Metropolitan Region (MMR). Luxury homes are defined as dwellings priced at 1.5 crore or more.
Further analysis for the first half of 2023, as noted by Knight Frank, indicates that residential property sales dropped by 2% in Bengaluru, while Hyderabad experienced a 5% increase.
Regrettably for Bengaluru, even the demand for office spaces cooled off during the January-June period, declining by 10%. This data suggests that Hyderabad holds a promising position in the ongoing real estate dynamics between the two cities.
The buoyant real estate markets in Hyderabad and Bengaluru continue to captivate attention as investors weigh their options in these vibrant South Indian cities.
