Hyderabad records whopping 260 per cent yearly growth of luxury homes

A report compiled by Anarock Group documents that Hyderabad witnessed a sharp rise in sale of luxury homes from approximately 3,790 units in 9M 2022 to around 13,630 units this year.

Hyderabad: The concept of luxury homes seems to have truly caught the fancy of home seekers in Hyderabad with the city recording a whopping 260 per cent yearly growth in the first nine months of financial year 2023.

A report compiled by Anarock Group documents that Hyderabad witnessed a sharp rise in sale of luxury homes from approximately 3,790 units in 9M 2022 to around 13,630 units this year. Around 44,220 homes across all budget categories were sold in the city in 9M 2023, of which the luxury share was 31 per cent.

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Noting that the luxury housing segment maintain a seemingly unstoppable growth curve in 2023, with overall sales rising steeply across the top 7 cities, the latest Anarock Research data finds that out of approximately 3.49 lakh units sold in these cities in the first nine months of 2023, about 24 per cent or 84,400 units, were luxury homes priced above Rs. 1.50 crore.

It also recorded that Hyderabad along with Mumbai Metropolitan Region (MMR) and National Capital Region (NCR) led the luxury homes sales in 9M 2023 with approximately 63,390 units sold in these three cities alone.

The national findings look at a 24 per cent rise in overall luxury housing sales share out of approximately 3.49 lakh units sold across top seven cities in 9M 2023, from 14 per cent in 9M 2022. Pune saw second-best yearly growth of 191 per cent, with around 6,850 luxury homes sold in 9M 2023 against 2,350 units in same period of 2022

Anuj Puri, Chairman – Anarock Group, says, “MMR, NCR and Hyderabad out-performed the other cities in luxury housing sales in 9M 2023, with these three cities together accounting for approximately 63,390 units sold. None of the top 7 cities saw any deceleration in luxury housing sales. In fact, they all went into overdrive.”

Luxury Housing Sales across top 7 cities (Units)

City              9M 2023      9M 2022 %       Y-o-Y change

Hyderabad 13,630          3,790                  260

Pune            6,850           2,350                   191
Chennai      3,330           1,370                    143
Bangalore   9,220          3,810                    142
NCR            13,630         6,210                    119
MMR         36,130          20,820                 74
Kolkata      1,610             950                      69
Total           84,400        39,300                115

(Source: ANAROCK Research)