Hyderabad: Massive 38,660 Houses Sold in First 6 Months of 2024

As the demand for housing needs has soared, Hyderabad real estate market has witnessed a 29 percent annual growth in the city, according to the CAGR figures from 2019 to 2024 revealed in a report prepared by Credai Hyderabad and CRE Matrix.

The report was released at the Credai Property Show in Hyderabad on Friday. The report has taken into account the data of the last 5 years since 2019. It noted that compared to the first half of 2019, sales have increased by 148 percent in 2024.

The report emphasized that a 760 percent growth recorded in the sales of immovable properties which is valued at more than Rs.5 crore. It also noted that more than one lakh houses are put up for sale. 

During the last five years, both primary sales and house prices have increased. If the value of the houses sold five years ago was Rs. 34,044 crore, last year it reached Rs.1,15,759 crore. The industry experts expect a further increase in the current house sale value. 

• A total of 30,316 houses valued at Rs. 34,044 crores were sold in 2019. 
• Covid-19 pandemic impacted the sale of houses in 2020. This year, only 29,611 were sold. The value of these houses was Rs. 33,084 crores. 
• By 2021, the market bounced back. Sales of houses increased by 50,884 on a year-on-year basis. Their value increased to Rs. 58,818. 
• In 2022, 67,276 houses were purchased. The value of sales increased by Rs 92,359 as the prices increased post-Covid. 
• In 2023, the value of primary sales of real estate crossed one lakh crore for the first time. A total of 74,991 units were sold whose value was Rs.1,15,759.  
• In the first six months of this year, 38,660 houses have been sold, the highest in the last five years.. The value of these houses was Rs. 58,841 crore.