Residential real estate sales in Pune have recorded strong growth in the first quarter of 2023, according to the latest report by real estate consulting firm CBRE South Asia Pvt. Ltd.
Out of the pan-India residential sales of 78,700 units in the first quarter of 2023, Pune accounted for 18,000 units sold, making it one of the fastest-growing real estate markets in India. Mumbai led the chart with 19,000 units sold, followed by Pune, Delhi-NCR (11,600 units), and Bangalore (11,500 units). Pune also accounted for 16,000 units in new launches, consolidating its position as a key growth market for real estate.
"We are seeing a sustained growth trajectory in the residential real estate segment, and this momentum is expected to continue in the coming quarters as well," said Anshuman Magazine, Chairman and CEO of India, South-East Asia, Middle East and Africa, CBRE.
The report further suggests that the demand for luxury housing will continue to grow, driven by the aspiration of continued home ownership. "Projects with better amenities, focus on health and safety and clean surroundings will further gain an edge amidst evolving consumer preferences," added Magazine.
Strong sales and launch momentum are expected to continue in the first half of 2023, with a minor tapering in activity likely in the middle of the year, cushioned by the festive season.
