The second quarter of 2024 saw a sharp decline in hyderabad real estate sales of homes. In the previous quarter, revenues decreased by twenty-three percent.
 
Real Estate in hyderabad sees a jump in residential prices
Hyderabad had a 39% annual increase in average home prices, citing a survey by real estate services company ANAROCK. Out of the top seven cities, with an average price increase of 13 to 39 percent, this one is the largest.
 
In comparison to the first quarter of 2024, prices in the leading cities increased by 4 to 10% in the second quarter.
 
Despite the price rise, sales decreased from 19,660 units in Q1 2024 to 15,085 units in Q2 2024.
Dip in house rent growth in Hyderabad
In Hyderabad's rental real estate market, home rent growth slowed in the second quarter of 2024.
 
In Q2 2024, average rentals in HITECH City and Gachibowli increased by 3 percent apiece over the previous quarter, according to research by ANAROCK. In these two markets, the average quarterly rent increase in Q1 2024 was 5%.
 
An increase in supply is the reason for the decline in growth. The extremely speculative residential rental rise is leveling out as more fresh supply enters the marketplace.
 
According to the research, hyderabad is expected to construct 34,770 units by the end of 2024, up from 20,500 units completed in 2023.
 
 
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SIBY JEYYA

29/06/2024 08:14 AM