According to Magicbricks, property portal, Amaravati, Guntur, and Vijayawada are emerging as the new residential favourites in South India for 2024. Based on the preferences of over 20 million customers, Amaravati (49.10 per cent  YoY), Guntur (38.27 per cent  YoY), and Vijayawada (31.95 per cent YoY) witnessed a significant rise in searches (demand). However, this surge led to a decline in residential supply: Guntur (-22.57 per cent YoY), Amaravati (-6.7 per cent  YoY), and Vijayawada (-18.46 per cent YoY). This mismatch caused notable price increases. In Q3 2024, Vijayawada’s average residential prices rose 20.06 per cent  YoY to ₹5,759 per sq ft, while Guntur and Amaravati saw rises of 3.27 per cent and 3.29% YoY to ₹4,962 and ₹4,470 per sq ft, respectively.

Contact: Magicbricks

Website: www.magicbricks.com