Rise in New Property Listings: Hyderabad Leads with 43.4% Growth
The share of new properties compared to resale listings on Magicbricks was nearly equal during the December 2024 quarter, showcasing a healthy demand for both newly constructed homes and pre-owned properties.
New Delhi: During the October-December quarter of 2024, Hyderabad accounted for 43.4% of new property listings, according to real estate classified platform Magicbricks. This marks a significant contribution to the growing real estate market in the city.
The share of new properties compared to resale listings on Magicbricks was nearly equal during the December 2024 quarter, showcasing a healthy demand for both newly constructed homes and pre-owned properties.
In a statement on Tuesday, Magicbricks revealed that during the October-December period of 2024, 50.9% of properties listed across 13 major cities were newly constructed, including builder floors, under-construction homes, and independent houses. This suggests a strong new supply entering the market.
The remaining 49.1% of listings were resale properties, owned by individuals, reflecting the steady demand for existing homes. Among the 13 cities analyzed, Gurugram recorded the highest share of new property listings at 63.1%, signaling a notable increase in new supply.
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In Ahmedabad, new properties made up 43.1% of listings on Magicbricks, while resale units accounted for 56.9%. In Bengaluru, new properties represented 58.9% of total listings, while in Chennai, it stood at 59.4%. Kolkata had 45.4%, Mumbai 56.3%, Navi Mumbai 39.3%, Thane 35.5%, and Pune 53% of new property listings.
In the National Capital Region (NCR), new property listings made up only 29.3%, while Noida had 34.7%. Greater Noida, however, witnessed a higher share at 52%, reflecting its rising popularity among homebuyers.
This data highlights the varying trends in property listings across India’s major cities, with Hyderabad standing out for its significant contribution to new property supply. The city’s real estate market continues to thrive, attracting both buyers and investors, and indicates strong future growth in housing demand.
This dynamic landscape in property markets across India showcases a diverse mix of demand, with new properties seeing increasing popularity in major cities like Hyderabad, Gurugram, Bengaluru, Chennai, and Mumbai, while resale properties dominate in certain other cities like Ahmedabad and Kolkata.
