Last year, Hyderabad achieved good development in the field of real estate. However, at the same time, the number of unsold houses has also increased. The increase in unsold residential units was particularly high in the third quarter of 2023. Experts are analysing that the reason for this is that the elections are approaching and many people are holding back from buying houses due to the uncertainty of how things will be under the new government. Currently, 523 projects are being run in Hyderabad by 308 builders.
The demand for residential units is good. In this regard, 36,893 units worth Rs. 54,690 crore were sold last year. At the same time, the number of unsold units rose to 72,254 last year as the supply of new units reached 50,267. Due to this, the time required to sell these has increased by three months. In terms of prices, there has been an increase in the Hyderabad real estate market. Prices have increased by around 10 percent. The number of unsold units in major cities across the country stands at 10.42 lakh. A year-on-year growth of two percent has been recorded.
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