Hyderabad's real estate market is experiencing a significant slowdown, with house sales plummeting by 42% in the July-September quarter, according to real estate analytics firm Prop Equity.
The city, known for its booming property market, saw a sharp decline in sales, with only 12,082 units sold compared to 20,658 units during the same period last year.
This drop reflects not only concerns about HYDRA but also shifting market dynamics, including potential buyer hesitancy, rising interest rates, and economic uncertainties.
The decrease in demand may also be linked to an oversupply of high-priced properties and evolving consumer preferences.
This downtrend poses a significant challenge for new realtors who are building skyscrapers with the expectation that buyers would pay crores of rupees for small flats, as seen in Mumbai.
The current scenario calls for strategic adjustments from developers and sellers to revive buyer interest and stabilize the market in the coming quarters.
