The second quarter of 2024 has seen a sharp decline in residential supplies and absorption, which appears to have affected Hyderabad's appeal as a place to buy real estate. According to Anarock's most recent research data, hyderabad added over 13,750 residential units in the second quarter of 2024 compared to nearly 22,960 units in the first. This decrease in newly constructed residential units amounts to around 40%!
 
Hyderabad looks to be falling off the real estate radar with a sharp decline in sales, which Anarock data places at 23%. This is in addition to new launches and absorption. Approximately 15,085 units were sold in the city during the second quarter, compared to 19,660 units sold during the preceding quarter.
 
Hyderabad, with a 23 percent decline in residential unit sales among the top seven cities of Bengaluru (-8%), pune (-8%), kolkata (-18%), MMR (-3%), and NCR (6%), is the largest loser, according to statistics compiled by Anarock.

"To the backdrop of rising property prices and a high base record of the previous quarter (Q1 2024)," according to the Anarock research, "the bull run in residential sales across the top 7 cities tamed down marginally in the second quarter of 2024."
 
According to the study data, house sales in the top 7 cities had a quarterly decline of 8%, with an estimated 1,20,340 units sold in Q2 2024 compared to about 1,30,170 units sold in Q1 2024.
 
With over 62,685 units sold in these two western cities—MMR and Pune—accounting for more than 52% of the total sales in the top 7 cities in Q2 2024. The NCR is the only city where house sales have increased (by 6%) from Q1 2024 to this quarter.
 
 

 
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SIBY JEYYA

28/06/2024 09:32 AM