Introduction
Hyderabad residential real estate market has suffered huge losses. This year, due to the economic downturn and oversupply of housing units. The residential real estate market witnessed a 36 percent decline in the second quarter of 2024. This has caused property values to plummet and new construction projects in the city to slow down.
Table of Contents
- Residential Real Estate Market Facing a Downturn
- Hyderabad Residential Real Estate Market Prices Are Increasing
- House Rental Growth Has Slowed in Hyderabad
- Downfall the Bengaluru Apartment Rents
The Hyderabad residential real estate market is facing a downturn in the second quarter of 2024. This is mainly due to the oversupply of properties. Which leads to reduced demand and subsequently lower prices. However, experts expect the market to remain stable with new launches and sales in the April-June quarter of 2024.
The government’s initiatives to promote the real estate sector. Such as affordable housing schemes and reduced interest rates are expected to have a positive impact on the market. The future outlook for the residential real estate market in Hyderabad. Looks promising despite the recent challenges. Investors are advised to keep a close eye on market trends. Take advantage of potential opportunities that arise when the market stabilizes.
Residential Real Estate Market Facing a Downturn
The residential real estate market suffered heavy losses in eight major cities. The cities of Mumbai real estate market, Delhi NCR, Bengaluru real estate market, Chennai real estate market, Hyderabad, Kolkata, Pune real estate market and Navi are also experiencing significant decline. Last year, 23,595 units were sold in the Hyderabad residential real estate market. Compared to last year, this year saw a decrease of 19 percent. Only 11,603 units were launched in the year 2024.
| Cities | Q2 2024 | Q1 2024 | % Change (Q1- 2024 Vs Q2- 2024) |
| Delhi NCR | 16,550 | 15,650 | 6 |
| MMR | 41,540 | 42,920 | -3 |
| Bangalore | 16,360 | 17,790 | -8 |
| Pune | 21,145 | 22,990 | -8 |
| Hyderabad | 15,085 | 19,660 | -23 |
| Chennai | 5,020 | 5,510 | -9 |
| Kolkata | 4,640 | 5,650 | -18 |
| Total | 1,20,340 | 1,30,170 | -8 |
Hyderabad Residential Real Estate Market Prices Are Increasing
Hyderabad residential real estate market prices to increase by 4 to 10 percent in top cities in second quarter of 2024. Every year, Hyderabad registers a 39 percent increase in average residential prices. According to a report by real estate services firm ANAROCK. The report also highlighted that the demand for residential properties in Hyderabad will increase.
Stay strong due to factors like infrastructure development and employment opportunities. This steady rise in prices reflects the city’s status as a desirable real estate market for investors and home buyers.
House Rental Growth Has Slowed in Hyderabad
Home rental growth in Hyderabad rental real estate market has slowed down this year. This decline in growth can be attributed to an increase in housing supply. leading to more choices for renters and thereby reducing pressure on prices. However, experts predict that this trend is temporary as the demand for rental properties is likely to pick up in the coming months.
In Hyderabad, 34,770 units will be completed by the end of 2024 and 20,500 units by 2023, the report said. The increase in these residential units is expected to meet the growing demand for housing. In the city as Hyderabad continues to attract more residents. Investors should slowly think about, it because of its growing economy and job opportunities.
Downfall the Bengaluru Apartment Rents
Recently there has been a potential change in the Bengaluru Apartment Rents dynamics. Factors such as increased demand for larger living spaces and preference. Suburban areas have contributed to this shift. As a result, landlords may need to adjust their pricing strategies to stay competitive in an evolving market. Landlords should consider offering more flexibility.
Lease terms or amenities to attract tenants in this changing landscape. There are indications that rental prices may remain stable in various areas such as Koramangala and Whitefield. Staying abreast of market trends and quickly adapting to tenant needs is key to success. In Bengaluru’s booming rental market. Being proactive and responsive to the changing demands of tenants is essential.
Conclusion
The Hyderabad residential real estate market has suffered huge losses. Financial distress led to a significant drop in property values and demand. Stakeholders in the market need to adapt to changing conditions. Implementing strategic measures to revive the real estate sector in Hyderabad. Investing in infrastructure development. Promoting affordable housing options can help stimulate demand and attract potential buyers. Encouraging partnerships with developers. For more information, visit openplot.
| Also read South Hyderabad Topped the Property Sales in 2023 Hyderabad today offers a variety of residential options. Adapting to different budget ranges and different buyer preferences. From contemporary high-rise apartments to sprawling villas and gated communities, Hyderabad’s residential market caters to a luxury lifestyle. Almost 60% Downfall of the Bengaluru Apartment Rents, Why? Bengaluru apartment rents fell by almost 60%. Because Bengaluru landlords start compromising on apartment rents as techies move away from IT corridors. This shift in the rental market is a result of the increase in remote work opportunities and the desire for more affordable housing options outside of the city center. 5 Important Seller Disclosures to Consider Before Purchasing a Home When purchasing a home, it is important to carefully search the seller disclosures provided by the current homeowner. This disclosure provides valuable information about the condition. The property and any potential issues that need to be addressed. |