In August, the city’s apartment sales experienced significant growth, marking a 15% year-on-year (YoY) increase and a 17% month-on-month (MoM) increase. According to Knight Frank, a leading real estate consultancy, the total value of registered property transactions during the month reached Rs 3,461 crore, reflecting a robust 22% YoY increase and a substantial 20% MoM rise. It’s important to note that the Hyderabad residential market encompasses four districts: Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy.

The demand for properties in August was primarily concentrated in the size range of 1,000 to 2,000 square feet, falling within the price bracket of Rs 25 lakh to Rs 50 lakh, accounting for an impressive 70% of all registrations. Notably, there was a growing demand for smaller homes, ranging from 500 to 1,000 square feet, with registrations for this category increasing to 16% in August 2023, up from 15% in August 2022. Furthermore, properties exceeding 2,000 square feet also witnessed an uptick in demand, with registrations climbing to 11% in August 2023, compared to 9% in August 2022.

The study also revealed the distribution of home sales registrations across districts. The Medchal-Malkajgiri district secured the top position with 43% of all home sales registrations, followed closely by the Rangareddy district with 39%. The Hyderabad district, meanwhile, contributed to 17% of the total registrations in August.

While a significant portion of the registrations pertained to small to medium-sized properties, it is worth noting that homebuyers also displayed interest in high-end properties, characterized by larger sizes and enhanced facilities and amenities. In fact, a few estates exceeding 3,000 square feet in size and valued at around Rs 4 crore found buyers in both Hyderabad and Rangareddy districts.

The real estate market in Hyderabad continues to display resilience and attractiveness to a diverse range of homebuyers, offering options across various size and price segments.