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Home | Hyderabad | Is Hyderabads Real Estate Bubble About To Pop Developers Buyers Hold Their Breath

Is Hyderabad’s real estate bubble about to pop? developers, buyers hold their breath

Amid concerns from developers, builders, and consumers about the recent shifts in the city's real estate market, speculations are emerging regarding the sales of existing stock and the impact of new project launches on inventory levels.

By Telangana Today
Published Date - 24 October 2024, 05:00 PM
Is Hyderabad’s real estate bubble about to pop? developers, buyers hold their breath
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Hyderabad: Having shone brightly for almost a decade, is Hyderabad’s residential real estate, a prime driver for property market, losing its gleam?

Amid concerns from various quarters, from developers and builders to consumers, over the recent drift of the city real estate, speculations are raised over the sales of available stock and new project launches adding to the inventory.

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  • Hyderabad faces sharp drop in luxury real estate

According to the latest assessment released by Knight Frank Research on Thursday, Hyderabad though registered a 34 per cent year-on-year increase during January-September, the same for the month of September dropped by 22 per cent.

The registrations data presented by Knight Frank shows as against 6,304 units in September 2023, this year September had only 4,903 home sales registered, a clear and sharp drop of 22 per cent. In terms of registration value too, compared Rs.3,459 crore of last September, 2024 September could only score Rs.2,820 crore.

However as far as January-Septemer 2024 data is concerned, the Knight Frank assessment says, Hyderabad registered home sales worth Rs. 36,461 crore recording a 34 per cent year-on-year (YoY) increase, whilst number of registrations stood at 59,386 up by 13 per cent YoY.

On September 2024, the report attributes the decline in registrations in Hyderabad ‘to the observance of the Shradh/Pitra Paksha period, a time considered inauspicious for buying or registering homes according to the Hindu calendar’.

The Knight Frank report observed a signification growth in premiumisation trend over last the months with sales of homes priced at Rs.1 crore and above increasing from 9 per cent to 14 per cent during the first nine months of 2024.

In September 2024, majority of the registered properties in Hyderabad were concentrated in the range of 1,000 to 2,000 sf) comprising of 68 per cent of all registrations.

At a district-level, Medchal-Malkajgiri led property registrations with 42 per cent of the market, up from 45 per cent in September 2023. Rangareddy and Hyderabad district accounted for 39 per cent and 19 per cent of the total registrations respectively.

Registrations in Hyderabad:

Month 2023 2024 YoY

January 5,454 5,444 0%

February 5,725 7,135 25%

March 6,959 6,870 -1%

April 4,494 6,696 49%

May 6,039 6,062 0%

June 5,566 7,056 27%

July 5,557 8,781 58%

August 6,493 6,439 -1%

September 6,304 4,903 -22%

(Source: Knight Frank Research, Telangana Registration and Stamps Department)

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