India is among the global markets with the expectation of sustainable recovery. The Indian real estate market displays much strength in Q2 (second quarter of the current financial year), 2022. As per Magicbrick’s latest report, the growth represents the massive comeback from the pandemic-influenced slowdown & overall recovery in all the sectors. The reports highlight that Pune displays an enormous increase in real estate developers‘ demand in both quarters of 2022.
According to the market report, it has escalated from 3.9% in Q1 2022 to 8.1% in Q2 2022. In addition, the average price range has also increased from 0.5% in Q1,2022 to 1.3% in Q2 2022. Now that is indeed an incredible jump, Right? Real estate agencies in Pune believe that property buyers have enjoyed a vast exponential in the last five years! With this, the country’s real estate sector has seen 1.8 B in private equity funding in the six months.
The global pandemic has taught all real estate businesses to re-evaluate their work actions & how they can make the community more productive. The second wave of Covid-19 did impact the real estate business a little. However, all real estate developers in Pune indicated the demand in this sector has been robust & it will continue. The commercial industry attracts 33%, followed by industrial & logistics at 30% and residential at 22%. H1 2022 recorded a Year-on-Year (YoY) growth of 187%, the highest since H1 2019.
But what has led to this up-taken demand? The following few reasons are triggered for the sharp increase in the dynamics of the real estate business, such as:
- Low-interest rate,
- New launches in sales,
- Work-from-home work method,
- Increasing requirement for bigger well-equipped houses.
Several factors impact real estate prices, availability, and investment potential in Pune. Here are some of the changing dynamics of real estate in Pune that you must check:
To Maintain Distance or Not? The choice is yours.
The old style “walk to work” culture will undoubtedly lose its charm. All thanks to the new normal trends. People are now so used to taking benefits from this even after the pandemic effects have loosened up. As a result, commuting convenience is no longer the primary criterion for home buying. Homebuyers feel easy & can explore more options with better affordability.
Bigger Space, Better Home
After spending the maximum amount of time in the home, everyone realised the importance of a big space. Additionally, Salary hikes by the IT companies ultimately boosted purchasing power. More is better. Consequently, the demand for larger homes with multi-utility, such as a reading corner, a workspace for the best productivity, a creative zen corner, and a play corner, has also increased. Thereby, doing research for builders & developers is crucial while buying property in Pune.
Additionally, The Pune office markets finally have seen robust growth after overcoming several hurdles. The Pune office market occupied the third largest market share in terms of transaction volumes in H1 2022 after Bengaluru and NCR.
Lower Interest Rate Boost the Requisition
Interest rate plays a significant impact in the real estate business. The center has lowered the home loan interest rate to a surprisingly low rate. With the reduced interest rates combined with buyer persona have achieved the most demand arise in the history of the real estate business in Pune.
Economic Growth Makes a Difference
Another key factor that creates a significant impact on real estate is the overall well-being of the economy. GDP generally analyses this, including the price of commodities, employment data, manufacturing data, & inflation.
Pune is the seventh largest metropolitan economy with a GDP of $69 Bn. With the sustained rise in population and the reduced debt of real estate in Pune, it has experienced an expansion in recent years in manufacturing, real estate & IT sectors emerging as key industries.
Surging Vogue for the Ready-to-move-in Properties Boost Demand
Ready-to-move-in properties are the latest masterstroke by the top developers. They have caught much attention in the last few years. Because of the time crunch, most homebuyers prefer a fast handover of their desired property. Whether residential or commercial properties, top builders in Pune have adopted this tried-and-true method for their business model & getting an immeasurable positive response, the best part is consumers can save up to 12% of GST when they buy a ready-to-move-in property.
Being a business owner with 30 years of legacy, Raviraj Realty focuses on offering its customers a space that would be perfect for them. We are a prestigious custom residential, commercial, and infrastructure developer based in Pune.
The idea of building spaces for customers has been in our minds for a long time. When we first started, we aimed to provide the best. That is how we came up with the idea of building dream spaces for customers. We have a passion for creating spaces that inspire and uplift people.
If you need more information on various real estate-related topics, we will surely help you. Additionally, you can visit our website https://ravirajrealty.com for more and our upcoming projects.
Content Writer For Website
- Quisque aliquet nibh sit amet lectus
- Nulla at metus ultricies, placerat augue
- Curabitur mollis ex vestibulum
- Quisque aliquet nibh sit amet lectus auctor
- Quisque aliquet nibh sit amet lectus
- Nulla at metus ultricies, placerat augue
- Curabitur mollis ex vestibulum
- Quisque aliquet nibh sit amet lectus auctor
Recent Posts
Have Any Question?
- (+62)81 238 1991
- support@domain.com
