Telangana - Real estate in Hyderabad sees massive dip in housing sales
In comparison to the first quarter of 2024, prices in the leading cities increased by 4 to 10% in the second quarter.
Despite the price rise, sales decreased from 19,660 units in Q1 2024 to 15,085 units in Q2 2024.
In Q2 2024, average rentals in HITECH City and Gachibowli increased by 3 percent apiece over the previous quarter, according to research by ANAROCK. In these two markets, the average quarterly rent increase in Q1 2024 was 5%.
An increase in supply is the reason for the decline in growth. The extremely speculative residential rental rise is leveling out as more fresh supply enters the marketplace.
According to the research, hyderabad is expected to construct 34,770 units by the end of 2024, up from 20,500 units completed in 2023.