Hyderabad Homebuyers Opt for Luxury: Sales Surge in 2024

Hyderabad’s real estate market has been on a remarkable trajectory in 2024, with a significant surge in home sales. The city’s burgeoning IT sector, coupled with a growing population, has fueled demand for both residential and commercial properties. According to a recent report by Knight Frank India, Hyderabad witnessed a 34% year-on-year increase in home sales during the first nine months of the year.

This growth is particularly evident in the high-value segment, with properties priced above Rs 1 crore seeing a staggering 79% increase in registrations. The rising preference for larger, more luxurious homes is a key factor driving this trend. Homebuyers are increasingly seeking properties that offer ample space, modern amenities, and a high quality of life. This shift in consumer preferences has led to a surge in demand for high-end residential projects in prime locations across the city.

Hyderabad’s strong economic fundamentals, including stable job markets and rising disposable incomes, have also contributed to the buoyant real estate market. As the city continues to attract talent and investment, the demand for housing is expected to remain robust. However, it’s important to note that the real estate market is cyclical, and factors such as interest rate hikes and economic slowdowns can impact demand. Nevertheless, Hyderabad’s strong fundamentals and positive outlook suggest that the city’s real estate sector is well-positioned for continued growth in the coming years.