55 percent increase in residential sales!

Flat Sales Increase in Hyderabad | Real Estate News

1,47,780 new units launched in 8 cities | Hyderabad Real Estate News

A recent report by PropTiger.com revealed that house sales in Hyderabad have increased by 55 percent compared to all other cities. In the first quarter of 2023, supply of new units has picked up momentum. According to the report, around 85,850 houses were sold in eight major cities between January and March 2023. Around 70,630 flats were sold during the same period last year. Launch of new projects increased by 86 percent which translates to about 1,47,780 new flats. During the corresponding period last year, the number of new flats started was 79,530. Sales in cities like Mumbai, Pune, Ahmedabad and Chennai have also increased significantly. Developers have launched new projects at a rapid pace to meet the high demand.

Developers have launched new projects due to the belief that sales will increase in the market. It can be assumed that the first quarter of 2023 has given a good momentum to the market. However, sales in cities recorded a decline of 22 percent as home buyers are preferring to buy properties only in the projects that suits them in best possible way.