Pune’s residential sector witness 56% growth in Q4 2022: Report

According to a report by Cushman & Wakefield, in Q4 2022, Pune’s residential sector witnessed a rise of 68% on a q-o-q basis and a 56% growth on an annual basis. With 15,328 unit launches this quarter, Pune records a growth of 56% from 2021, a high for the quarter and the year.

Commenting about the performance, Ram Naik, Director, The Guardians Real Estate Advisory said, "Pune has witnessed a decent performance in the fourth quarter in terms of residential sales. The city has seen a considerable number of new launches in the quarter with a reasonable decline in the unsold inventory. These are encouraging developments, which also give an insight to the constant demand for housing in the city. The festive season that falls in Q4, along with the reopening of the offices after the pandemic, have acted as a catalyst to boost the property sales & launches in Pune. The affordability factor and the interest rates, which were lower than the pre-pandemic levels, too have provided the much needed fillip to the home-buying activity in the region."

Pune had seen a record number of launches with realtors racing ahead to cash in the growth spurt. In the past few years, the city has been witnessing a gradually rising supply of project launches from developers of national repute too.

"With its proximity to the financial capital Mumbai and Navi Mumbai, Pune has flourished as an ideal destination with a pleasant climate and sylvan surroundings. These factors have led the developers of national repute to invest in Pune with their new developments", added Naik.