Housing Sales In Hyd Fall 47% In Oct-Dec

Hyderabad: Among top nine cities, Hyderabad reported the maximum year-on-year drop in supply and sales of residential properties during October-December period of 2024.

On year-on-year basis, housing supply dropped the highest in Hyderabad at 52 per cent, while sales fell at 47 per cent. The housing supply in the top nine cities fell to 85,765 units in Q4 CY2024 (October-December) as against 1,27,936 units in the same period last year. However, supply rose seven per cent in Q4 CY2024 from 80,284 units in Q3 CY2024 (July-September), according to a report by PropEquity.

The real estate data analytics firm mentioned that in the fourth quarter of calendar year 2023, 28,898 units were supplied in Hyderabad, as against 13,727 units in Q4 CY2024. However, on quarterly basis, there is a 22 per cent increase as 11,280 units were supplied in Q3 CY2024. On y-o-y basis, housing sales fell from 24,044 units in Q4 CY2023 to 12,682 units in Q4 CY2024. On quarterly basis, the city witnessed nine per cent increase in sales as 11,642 units were sold in Q3 CY2024.

Samir Jasuja, CEO and Founder, PropEquity, said: “The y-o-y basis drop is due to the high base effect, as 2023 was a peak year for both sales and launches. However, the housing supply and sales are up in Q4CY2024 owing to the festive season demand. A closer look at the numbers reveals that despite the drop, the supply to absorption ratio in 2024 remains the same as 2023 which indicates that the fundamentals of the real estate sector are strong and healthy.”