20230510-莱坊-Hyderabad_Residential_Property_Registrations_Update_Jan_2023_3页_465kb

Hyderabad Residential Market Update: January 2023

Overview

In January 2023, Hyderabad's residential market saw a significant drop with 4,872 units registered, valued at INR 24,222 million, compared to 7,343 units and INR 32,698 million in 2022, representing year-on-year decreases of 34% in units and 26% in value.

Registration Dynamics

• Total residential units registered decreased by 34% to 4,872, reflecting reduced buyer activity amid economic pressures.
• Unit size distribution showed a slight shift, with registrations in 1,000-2,000 square feet remaining the highest at 71%, down slightly from 72% in 2022.
• Price band distribution indicated strong demand for higher-ticket homes: properties worth INR 2.5-5 million accounted for 54% of registrations, up from 39% in 2022.

Regional Analysis

• District-wise registrations: Medchal-Malkajgiri (41%) and Rangareddy (35%) dominated, while Hyderabad's share decreased to 15%.
• Transacted prices showed growth, with Sangareddy district recording the steepest year-on-year increase of 48%, while Hyderabad's average price rose by 16%.

Market Trends and Factors

• Demand for mid to high-price segments persisted despite higher interest rates and prices, attributed to stable financial confidence among salaried professionals.
• Seasonal and buyer behavior factors contributed to irregular monthly trends, but overall market remains resilient due to income growth.

Key Insights

• Despite economic challenges, the market maintained activity, with a shift towards larger units and higher-value properties, but saw moderation in certain price segments.