Real estate in Hyderabad may witness 47 pc dip in housing sales

Hyderabad: The real estate market in Hyderabad is likely to witness a fall in housing sales by 47 percent during October-December 2024.

According to a report by PropEquity, a real estate data analytics firm, housing sales are expected to fall by 21 percent across nine major cities during the same period.

Housing sales in Hyderabad to fall to 12682 units

As per the report, housing sales in the city are expected to fall to 12,682 units during October-December 2024, compared to 24,044 units in the year-ago period.

Samir Jasuja, CEO & Founder of PropEquity, said the sales have declined on an annual basis because of the high base effect.

He expects sales to rise quarter-on-quarter.

Across other major cities

The report revealed that housing sales are likely to reach 1.08 lakh units across the nine major cities, including Hyderabad, during the October-December quarter.

Sales across the nine cities—Delhi-NCR, Mumbai, Navi Mumbai, Kolkata, Bengaluru, Pune, Hyderabad, Chennai, and Thane—are likely to decline to 1,08,261 units in the current quarter, compared to 1,37,225 units in the same period last year.

The drop in sales in Bengaluru, Chennai, and Mumbai is expected to be 13 percent, 9 percent, and 27 percent, respectively.

Real estate in Hyderabad witnesses rapid growth over past decade

Though housing sales are expected to decline in the city, Hyderabad has shown remarkable progress in real estate, with a Compound Annual Growth Rate (CAGR) of 10 percent in residential launches over the past decade.

According to the India Prime City Index by Knight Frank India, Hyderabad has emerged as the fastest-growing city among six major Indian urban centers, driven by rapid infrastructure development and a thriving real estate market.

Following is the list of fastest-growing cities in India based on real estate