Hyderabad Real Estate Market Records 9% Decline in Q4 Sales Value

Housing sales in nine of the largest cities fell by 9%, to nearly 4.7 lakh units. PropEquity, an NSE-listed firm that provides real estate analytics, said the new supply would fall by 15% in 2024 to 4,11 units due to the general elections and monsoon.

The housing sales grew in only two cities by 2024. Navi Mumbai recorded the loftiest growth, while Hyderabad endured the topmost decline.

In 2024, casing deals in Navi- Mumbai increased by 16 percent to 33 870 units. Housing sales in Delhi-NCR increased 5%, to 43,923 unit by 2024. Bengaluru's housing sales 9% property value drop in 2024 to 60,506 unit Housing sales in Chennai fell 11%, to 19,212 units. In Hyderabad, they dropped 25%, to 61 722 units.

In the western region of India, sales of housing in Mumbai fell by 6% in 2024 to 50,140, in Pune, by 13%, to 92 643, and in Thane, by 5%, to 90 288 units. Housing sales in Kolkata dropped by 1% in 2024 to 18,595 apartments.

Delhi-NCR has seen a rise in housing sales and availability

In four of the nine cities, new supply increased. Delhi-NCR recorded the highest increase and Hyderabad the largest decline. Some industry players claim that since June, when HYDRAA began demolishing encroachments, the real estate market has faced challenges in Hyderabad. This action has caused apprehension in property buyers and made them hesitant to invest.

The drop in Housing Supply and Sales is due to a high base effect. 2023 was an exceptional time. The data shows that, despite the decline, the rate of force to immersion in 2024 is the same as it was in 2023. This indicates that the fundamentals in the real estate industry are healthy and strong, according to Samir Jasuja.