Pune is now the most preferred real estate investment destination and the most affordable amongst the Metro cities as per the CRE Matrix Report released by CREDAI Pune Metro recently. The report was presented at the Members Assistance Meeting at the CREDAI Pune Metro Auditorium.
The report’s findings are based on the sales registration data as well as the RERA data. “Pune is now India’s most affordable and fastest growing real estate market among all Metro cities in terms of number of units sold in the period January-June 2023. The Pune Housing Market in H1-2023 has clocked sales of over 45,000 units worth over Rs 28,000 crore. This is a 90 percent growth over the first half of calendar year, meaning Pune’s real estate market has done phenomenally well in the last four years,” said Ranjit Naiknavare, president of the CREDAI Pune Metro.
Abhishek Gupta, CEO of the CRE Matrix, said, “Pune has made the most of the tailwinds it had witnessed in the sales in the first half of the calendar year 2023 with a 40 percent spike in the total sale numbers as opposed to the same period in 2019. Pune city sold at an all-time high 45,162 primary housing units in 2023 in the period between January and June as compared to 32,250 housing units sold in 2019 in the period January to June, the pre-COVID era.”
“The average price of a housing unit sold in Pune in the first half of calendar year 2023 was Rs 63 lakh, this is 37 percent higher than the average price in 2019, suggesting that average sizes and prices of homes are increasing,” said Gupta. Units priced above Rs 1 crore have seen a sales hike of 250 percent, during H1 CY’23 as compared to H1 CY’19.
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