Leading Real Estate Report Confirms That in Q1 2022 Pune Real Estate Market Topped in Home Sales and New Project Launches

CBRE South Asia released its "India Market Monitor – Q1 2022" report. The analysis examined the development, trends, and dynamics of India's diverse real estate market categories.

According to the research, house sales increased by about 13 percent quarter-over-quarter to more than 70,000 units in Q1 2022, and by roughly 40 percent year-over-year. 

The affordable/budget segment's sales share remained unchanged at 27% in Q1 2022 compared to Q4 2021. 

While sales in the high-end category increased to 23 percent in Q1 2022 from 16 percent in Q4 2022, sales in the mid-range sector decreased to 41 percent. The premium and luxury home sectors also saw a small increase in sales quarter-over-quarter.

In Q1 2022, new unit launches increased by over 30 percent year-over-year to surpass 60,000 units. With respective percentages of 43% and 30%, mid-tier and premium categories led new product debuts in the nation.

In addition, the research emphasised the fact that western cities continue to drive sales and unit launches. In the first quarter of 2022, Pune dominated home sales with a 27 percent share, followed by Delhi-NCR (21 percent), Mumbai (20 percent), and Bangalore (20 percent) (14 percent ). 

Pune led all cities in terms of unit launches with a 29 percent share, followed by Mumbai (22 percent) and Hyderabad (11 percent) (20 percent ).

One of the leading real estate marketing companies in India mentioned that "There is a great deal of potential for Pune to become one of India's leading cultural and youthful capitals. Homebuyers have a wide variety of alternatives to choose from, ranging from moderately priced housing to properties in the premium, ultra-luxury, and luxury categories, respectively. The Mumbai–Bangalore Highway provides a direct connection between the city and both Mumbai and Bengaluru, allowing for easy travel between the three cities. In recent months, Pune has witnessed a surge in demand from working professionals seeking not only exceptional residences, but also all of the amenities of a contemporary lifestyle. Pune is one of the greatest cities in the nation for the information technology industry, the automobile industry, and education. The recent favourable policies of the government and the low interest rates on loans have been the frosting on the cake in recent quarters. We have high hopes for the real estate market in Pune, and we are delighted to play a part in its growth by being the city's pioneers in the purchase of new homes."

Rajendra Pate, president of Naredco Pune, said, "The increasing number of multinational corporations (MNCs) in Pune has raised the city's employment rates, leading to a rise in housing demand. Along with other infrastructure projects, the Pune Metro will facilitate travel and accessibility across the city. Other contributors to the better market dynamics were a 50 percent reduction in construction premiums due by developers, low home loan rates, decreased stamp duty, discounted pricing, and flexible payment terms."