Hyderabad Home Sales Up 18% in Jan-Aug 2024

Hyderabad: Confidence of buyers in Hyderabad’s real estate market is clearly visible with the growth in value of residential properties registered this year. The city registered sales of homes worth a total Rs 4,043 crore during August 2024, reflecting 17 per cent year-on-year (YoY) increase. Similarly, the value of properties registered from January to August 2024 was recorded at Rs 33,641 crore, marking a 41 per cent YoY increase, a reports said. In its latest assessment, Knight Frank India reported that between January to August 2024, Hyderabad registered a total of 54,483 homes, showing 18 per cent rise, compared to 46,287 units registered in the corresponding period last year.

Shishir Baijal, Chairman and Managing Director, Knight Frank India, said: “Hyderabad’s residential market is flourishing, particularly in the luxury segment, as more homebuyers seek spacious layouts and premium amenities. This aligns with the broader national trend toward high-end housing. Backed by strong economic growth and favourable interest rates, buyer confidence is rising, with a notable 61 per cent YoY increase in registrations for homes over Rs 1 crore in August 2024.” Sales of residential properties priced at Rs 1 crore and above saw a significant rise, growing from nine per cent to 15 per cent in August 2024.

This reflects a shift in homebuyer preferences toward higher-value properties, with a 61 per cent YoY increase in registrations of these properties, according to

the report.