Categories: Latest

Housing prices in Pune continue to rise in Q2 2022: Report

New Delhi, August 19, 2022: Pune saw a 5 percent rise in housing prices to ₹7,681 per square foot during the April-June quarter, according to a report.

Realtors’ apex body CREDAI, real estate consultant Colliers India and data analytic firm Liases Foras released a joint report on ‘Housing Price-Tracker Report 2022’ for eight major cities — Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad.

Prices of units under construction have been on the rise since last year, increasing about 5 percent YoY, the report showed.

Mr. Ram Naik – Director, The Guardians Real Estate Advisory said, “The real estate prices have not gone up in the last couple of years despite the sector being suppressed by a volcano of disruption resulting in sluggish market economics. But now with the economy coming back on track, the critical raw material prices, construction costs and the rising interest rates continue to surge at a rocket pace compelling the developers to pass the burden on the home buyers resulting in higher property prices.”

Despite rising prices and an increase in new launches in the last few quarters, unsold inventory saw a dip in the majority of the cities.

Unsold inventory dropped 13 percent on a YoY basis signaling improved market activity and buyer confidence in Pune, it said. A resurgence in demand for residential real estate has led to an increase in prices across the top eight cities.

“The increase in property prices has not affected the real estate market in Pune as we can see a drop in the unsold inventory indicating that there is a genuine demand for homes. This has led to robust demand and a positive home-buying sentiment in the recent quarters. However, if the property prices increase further, then it will severely affect positive sentiments of home buyers and the overall demand,” added Mr. Naik.

As per the report, prices of 2 BHK properties have shown a maximum increase of 5 percent YoY indicating healthy demand for this category. Kothrud and Baner area saw the maximum surge in housing prices at around 9-10 percent YoY range.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

Line Investments & Property SP LLC Triumphs with 21Awards at MECS+R MENA 2024

Riyadh, November 07, 2024: Line Investments & Property SP LLC, a prominent subsidiary of LuLu…

13 hours ago

Intellion Offices by Tata Realty & Infrastructure Ltd Posts 60% YoY Growth in GCC Absorption

First half of FY 25 continued with strong GCC demand with 80% contribution in space…

13 hours ago

Champion REIT Recognised as ‘GRESB Global Listed Sector Leader’

- Sustainability Leadership Shines in 'GRESB Real Estate Assessment' and 'GRESB x HERA Standing Investment…

1 day ago

GCCA India joins hands with Xynteo’s Build Ahead coalition to decarbonise India’s construction sector

Mumbai, November 06, 2024: The Global Cement & Concrete Association (GCCA) India and Xynteo announced…

1 day ago

Sohna emerges as new micro-market in Delhi-NCR; set to add 16000+ residential units in 3 years

New Delhi, November 05, 2024: Haryana’s Sohna is emerging as a new micro-market in the…

2 days ago

Neo Developers Pvt Ltd. Appoints Manpreet Kaur as President – Sales

New Delhi, November 04, 2024: Neo Developers, a leading real estate company has announced the…

3 days ago