According to the latest Housing Price-Tracker Report jointly produced by CREDAI, Colliers, and Liases Foras, there has been a notable increase in prices in Hyderabad's housing market over the past two years, driven by both solid demand and greater supply.
 
Buoyed by favorable borrowing rates and an optimistic economic outlook, purchasers' unshakeable optimism caused house demand to skyrocket, driving up prices. According to the survey, there has been a significant rise in the supply of luxury homes, accounting for 10% of the year-over-year increase in housing prices.
 
The Southwest sub-market saw the largest increase, at 24 percent year over year, whilst Central hyderabad saw a slowdown in pricing following a sequential increase in the fourth quarter of 2022. According to a further analysis of the study, 1BHK apartments had an increase in prices of 11% year over year, while 4BHK units saw the largest yearly price rise at 14%.

Ninety-five percent of the unsold inventory, according to the research, is presently under development in Hyderabad. A key finding from the research for the fourth quarter of 2023 is that the average cost of a square foot of housing in the city is Rs 11,083. In comparison to the average costs of Rs 8,821 per square foot in 2021 and Rs 10,090 per square foot in 2022, this is a significant increase.
 
After Bengaluru, delhi NCR, and Kolkata, hyderabad saw the fourth-highest increase in average home costs in 2023 compared to 2021 levels. The survey also notes that throughout 2022 and 2023, major cities would see a spike in the number of new property launches in the mid- and luxury segment. Over the previous two years, hyderabad, Bengaluru, Kolkata, mumbai Metropolitan Region (MMR), and pune had an increase in fresh supply of 2-2.5 times.

Residential price trends (2021-2023) (in Rs/sft):

Hyderabad: Average residential price trends (Rs/sft)

2021: 8,821

2022: 10,090

2023: 11,083

– Price change (2023 vs 2021): 26%

– Price change (2023 vs 2022): 10%

– Price change (Q4 2023 vs Q3 2023): 0%

Average residential price trends (Rs/sft)

Ahmedabad:

2021: 5,721

2022: 6,203

2023: 6,737

Bengaluru:

2021: 7,609

2022: 8,276

2023: 9,976

Chennai:

2021: 7,182

2022: 7,445

2023: 7,701

Delhi NCR:

2021: 6,958

2022: 8,394

2023: 9,170

Kolkata:

2021: 6,081

2022: 7,144

2023: 7,912

Mumbai Metropolitan Region (MMR):

2021: 19,657

2022: 19,287

2023: 20,047

Pune:

2021: 7,398

2022: 8,379

2023: 9,185



 

 
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29/02/2024 09:28 AM