Hyderabad leads in luxury housing in India

Hyderabad: Hyderabad has become the preferred destination for luxury housing in India, surpassing all other cities in the country. In a noteworthy development, the real estate market in Hyderabad has seen a notable shift, with the demand for high-end homes priced above Rs 1.5 crore exceeding the demand for affordable homes priced below Rs 40 lakhs for the first time.

The capital city of the state has experienced a remarkable increase in the supply of new luxury housing, with approximately 14,340 units entering the market in the third quarter of 2023. Hyderabad has outperformed all other major Indian cities, leading in the supply of new luxury housing in Q3 2023, signifying a significant change in homebuyer preferences as luxury housing continues to gain popularity. To put this transformation into perspective, in Q3 2018, only 210 luxury units were introduced in the city. Fast forward to Q3 2023, and Hyderabad boasts an astounding 14,340 luxury units. The surge in sales in Hyderabad can be attributed to post-pandemic homebuyers seeking larger residences with premium amenities and prime locations.

However, the demand for homes priced at or under Rs 40 lakhs has declined in the seven major cities, including Hyderabad, while the demand for homes priced at Rs 1 crore or more has shown substantial growth.