Hyderabad Real Estate Shows Robust Growth in 2024 Despite Year-End Dip

Hyderabad realty market shows strong growth in 2024; the market saw a mid-year dip and a year-end slow down Indeed, home sales registrations increased significantly by 7% year-over-year, while total transaction value growth was at 23% year over year, shows a recent Knight Frank report.

However, the market declined in December 2024. Though registered properties rose by 5% to November’s figure, the number of registrations in December down to 5,805 properties was just 20% less than December 2023. The aggregate amount of properties registered in December stood at Rs 3,590 crores, which was a modest 2% month-on-month increase while 14% year-on-year compared to the same period last year.

Hyderabad has shown considerable resilience, thanks to the strong growth in its economy and an increasing bias toward living in premium and luxury facilities,” opined Shishir Baijal, Chairman and Managing Director, Knight Frank India. “Developers are reacting to a growing demand by introducing upscale projects, better poised to meet the changing preferences of homebuyers,” added Baijal. According to him, discerning buyers feel secure about the rising residential real estate sector in Hyderabad which is fast emerging as a premium living and investment destination.

The report found that homes that were between 1,000 and 2,000 square feet accounted for 69 percent of the registrations in 2024, while a larger home greater than 2,000 square feet accounted for 14% of the total home registrations, implying a clear market shift towards luxury dwellings. District-wise Medchal-Malkajgiri and Rangareddy led the numbers, accounting for 42 percent and 41 percent of all the total registration, respectively. Here again, Medchal-Malkajgiri also reported the highest surge in prices; the average value of a property increased by 14%.

For the last five transactions, December saw all homes larger than 3,000 square feet, with all properties valued more than Rs 5.5 crore, depicting growing demand for upscale homes. Still, the dynamics show that the city’s realty market is doing well even in the last month of the year.