Categories: Market

Pune witnesses 9% jump in residential sales in Q3: Report

New Delhi, November 10, 2022: Pune sold 20,807 units in the third quarter (July-Sep period) of 2022, an increase of 9 per cent from the corresponding period of 2021 but down 1 per cent from the previous quarter, real estate consultancy firm PropEquity said in a report.

Pune launched 13,081 new units, down 33 per cent from the same quarter a year ago and a fall of 29 per cent from the preceding quarter.

New Launches (in units) in Q3 2022
City Q3-2021 Q2-2022 Q3-2022 Q-o-Q Y-o-Y
Pune 19,618 18,480 13,081 -29% -33%
Sales (in units) in Q3-2022
City Q3-2021 Q2-2022 Q3-2022 Q-o-Q Y-o-Y
Pune 19,099 21,076 20,807 -1% 9%

Commenting about the performance, Ram Naik, Director, The Guardians Real Estate Advisory said, “Pune has witnessed a decent performance in the third quarter in terms of residential sales. Although the new launches were down as compared to the previous year, it has still been able to witness a reasonable decline in the unsold inventory. These are encouraging developments, which also give an insight to the constant demand for housing in the country. The recently concluded festive season, along with the reopening of the offices after the pandemic, have acted as a catalyst to boost the property sales in Pune. The affordability factor and the interest rates, which were lower than the pre-pandemic levels, have provided the much needed fillip to the home-buying activity in the region.”

Reiterating the same, Mr. Rajendra Pate, President, NAREDCO Pune said, “Pune has continued to witness a robust growth in residential sales between July to September 2022 quarter. There has been a continuous surge in consumer sentiment towards property investments. Despite the rise in interest rates, the housing demand has sustained in Pune on the back of several factors like high rentals, opportunities in the job market and relatively affordable homes than other markets.”

Furthermore, the total unsold stock in the top cities at the end of the third quarter fell 12 per cent to 4,77,570 units compared to 5,40,849 units in the same period in 2021. Delhi-NCR, Bengaluru, and Pune saw the most decline in the unsold inventory, said the report.

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Recent Posts

Champion REIT Recognised as ‘GRESB Global Listed Sector Leader’

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

18 hours 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…

18 hours 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

Renny expands its product range with focus on Green Manufacturing and New Solutions

New Delhi, November 02, 2024: Renny, a frontrunner in the building materials industry, continues to lead…

5 days ago

Rajkot Municipal Corporation Raises Rs 100 Crore Through Bond Issue to Boost Infrastructure & Community Services

New Delhi, November 01, 2024: To boost infrastructure and community services, Rajkot Municipal Corporation raised…

6 days ago