12% decrease compared to November of the previous year
Report by Knight Frank India reveals
The real estate market in Hyderabad saw a slight decline in November. There was a 12% decrease in registrations this month compared to November of the previous year. In November 2023, 6,268 units were registered, while in November 2024, only 5,516 units were registered. Even compared to October, registrations were 6% lower. In October, 5,894 units were registered, as per the Knight Frank India report. The report also stated that sales of Rs 3,495 crores were recorded in November, which is a 7% decrease compared to last November, when sales amounted to Rs 3,741 crores. Additionally, there was a 3% decline in sales compared to Rs 3,617 crores in October 2024.
The Knight Frank India Chairman and MD, Shishir Baijal, mentioned that there is strong demand for high-value homes in Hyderabad, with a 3% annual growth seen in this segment. He noted that buyer preferences are shifting towards luxury living, as evidenced by the increased sales of larger, premium properties valued above Rs 1 crore.
While registrations declined in November, the report highlighted that registrations for high-value homes increased. Typically, properties priced below Rs 50 lakh saw the majority of registrations. However, this trend has recently shifted. In November 2023, the share of homes priced above Rs 1 crore accounted for 12% of sales, which increased to 14% in November 2024. Moreover, in November 2024, properties ranging between 1,000 and 2,000 square feet accounted for 69% of registrations.
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