The report indicated that West Hyderabad accounted for a significant portion of total sales, holding 54% of the market, although demand declined even in these prominent areas. North, South, and East Hyderabad followed with 28%, 13%, and 4% of the market share, respectively. All regions experienced decreases in sales, ranging from 3% to 26%.
Published Date – 25 October 2024, 03:38 PM
Hyderabad: Hyderabad’s once-booming housing market hit a bumpy road in the third quarter of 2024, with sales tumbling by 16 per cent compared to the previous quarter, leaving 12,700 units sold and a growing number of unsold properties casting a shadow over the skyline, according to the latest ANAROCK Property Consultants report.
Year-over-year, the city witnessed a steeper slide, with a 23 per cent drop in transactions, marking the largest sales dip among India’s top seven cities.
According to the report, West Hyderabad claimed a lion’s share of total sales, securing 54 per ent of the market, yet demand sagged even in these high-profile neighborhoods. North, South, and East Hyderabad trailed, with sales capturing 28 per cent, 13 per cent, and 4 per cent of the market, respectively. All zones saw declines ranging from 3 per cent to 26 per cent.
While the city secured the third-highest share of new launches across India’s top seven cities, with a total of 13,900 units, the overall launch volume declined by 44 per cent compared to the same period last year.
The report states, “Demand near IT hubs is expected to sustain price gains, while developers focus on green building and smart homes to meet buyer preferences.”
Meanwhile, inventory levels have reached an unprecedented high, topping 101,000 units and up 13 per cent year-over-year.