New Delhi : According to Magicbricks, India’s leading real estate portal, Amaravati, Guntur and Vijaywada are emerging as the new residential favourites in South India in 2024.
Based on the preferences of over 2 crore customers on the platform, Amaravati (49.10% YoY), Guntur (38.27% YoY) and Vijaywada (31.95% YoY) enjoyed increased searches (demand). At the same time, due to high uptick, residential supply (listings) in Guntur ( -22.57% YoY), Amaravati (-6.7% YoY) and Vijayavada ( -18.46% YoY) reduced.
Due to demand and supply mismatch, residential prices increased substantially in these markets. Average residential prices in Vijayawada increased 20.06% YoY to reach INR 5759 psf in Q3 (Jul-Sep 2024). Average residential prices in Guntur increased 3.27% YoY to INR 4962 psf and in Amaravati it increased 3.29% YoY to INR 4470 psf shared the portal.
Based on the preferences of over 2 crore customers on the platform, Amaravati (49.10% YoY), Guntur (38.27% YoY) and Vijaywada (31.95% YoY) enjoyed increased searches (demand). At the same time, due to high uptick, residential supply (listings) in Guntur ( -22.57% YoY), Amaravati (-6.7% YoY) and Vijayavada ( -18.46% YoY) reduced.
Due to demand and supply mismatch, residential prices increased substantially in these markets. Average residential prices in Vijayawada increased 20.06% YoY to reach INR 5759 psf in Q3 (Jul-Sep 2024). Average residential prices in Guntur increased 3.27% YoY to INR 4962 psf and in Amaravati it increased 3.29% YoY to INR 4470 psf shared the portal.