Pune real estate market trends have only been going Northwards in recent years. The sector hit a slowdown for a couple of months during Covid, but there has not been any looking back since the 2nd half of 2021. Pune is an established IT hub, an academic center, and an emerging manufacturing destination, but what is driving its real estate growth is the fast-track development of the city. Pune is developing along all directions. Not just the employment avenues, the livability index, and the pleasant climate, Pune is just the perfect place in India to live. Now the question arises: Is it worth investing in Pune real estate? Are property prices rising in Pune? Yes, without a doubt. But why and how?
Let us explore a few pointers to understand and assess prevailing Pune real estate market trends.
Pune Real Estate Market Trends
Surge in housing demand Post-Covid
During the Covid-19 pandemic, amidst lockdowns, there was a global lull in the real estate sector. However, demand picked up when home seekers could visit the sites. Amongst the significant Pune real estate market trends, it was observed that there was a convincing demand for homes in Pune in 2022 and thereon.
Buying Interest in Luxury Homes
While earlier, there was more demand for 1 and 2-BHK homes, during the pandemic, everyone felt the need for bigger and more comfortable homes to accommodate the Work-from-Home option. Amongst other things, this requirement led to a significant demand for luxury homes with configurations of more than 2 BHK.
Infrastructure Development
Pune’s fast-paced development is a key driving factor affecting rising real estate price trends in Pune. There are various Govt. initiatives to lure companies into opening new offices, set up manufacturing units, etc. This has given a major push to employment in the city. There has been a strong focus of the Govt. on developing good infrastructure to attract more investment in the city. Construction of highways, connecting roads, and the introduction of a metro rail network all combined have made the city well-connected and better accessible to other parts of the country and locally, too.
Livability Factor
Pune is a cosmopolitan city and is slowly emerging as a desirable home destination in India. A pleasant climate throughout the year, excellent social and physical infrastructure, good employment, and academic options have all made Pune a loved city, having an improving livability index with each passing year.
Given the huge influx of migrant population in the city, Pune peripheries are bursting with residential projects to accommodate this crowd. There are manufacturing hubs and IT corridors that have led to steep demand in both affordable and luxury housing options alike. Pune real estate market trends show that the city has emerged not only as one sought-after destination for living and as well as for real estate investments.
Mushrooming township projects
Townships and gated communities are a sought-after housing category, especially after the pandemic. More and more homebuyers are seeking comfort, security, and fitness facilities. Projects having fewer amenities or low-budget homes are also witnessing a slowdown in demand. Now that people focus more on lifestyle comforts, integrated townships are the future. Operating on a larger scale, a township offers more amenities and facilities to its residents compared to a low-density project.
Returns on Investment
Pune property trends show a continuous and consistent rise in property prices. Driven by the city’s fast-paced growth, this trend will only increase in momentum now. Going by Pune real estate trends, an investment in the city at this point will fetch you excellent returns in the coming years.
Pune real estate market trends are encouraging for real estate investors. With the scale at which the city is developing, and companies are coming over to invest, you can bet your money on Pune for rich returns on your investment in future.
Naiknavare Developers – Best Real Estate Developer In Pune
The Naiknavare Developers have been named one of the ‘Real Estate Icons of Pune’ for 2022. Naiknavare Developers has made some of Pune’s best commercial & residential projects. Naiknavare Developers has been around since 1986 and is well known for its credibility and integrity. We’ve won 30+ awards since our customer-centric approach brought smiles to over 12,000 families. Don’t wait. Check out our ongoing residential projects in Pune now!