Pune’s housing market recorded strong growth in H1 CY’23. The city sold more than 45,000 housing units during the period. Housing sales value crossed ₹28,000 crore across the primary market. Moreover, Pune remained one of India’s most affordable metro housing markets. The market also witnessed strong demand across multiple budget segments.
According to the Pune Housing Report – Aug’23 by CREDAI Pune Metro and CRE Matrix, Pune recorded 90% growth in housing sales value compared to H1 CY’19. The average value of a housing unit sold reached ₹63 lakh in H1 CY’23. Furthermore, buyers showed a stronger preference for premium and larger homes. North-West Pune and Pimpri-Chinchwad remained key growth markets during the period.
Pune Housing Sales Reach Record Levels
Pune recorded an all-time high in housing sales during H1 CY’23. The city sold 45,162 primary housing units during the first half of the year. Housing sales value also reached nearly ₹28,406 crore during the period. In addition, Pune recorded 40% growth in housing sales compared to H1 CY’19. The report highlighted strong buyer confidence across the city.
Pune also remained one of India’s most affordable metro housing markets. The average housing unit value stood at ₹62.9 lakh in H1 CY’23. Moreover, Pune outperformed several major metro cities in housing sales growth. Competitive pricing and strong infrastructure supported the market’s growth. Buyers also preferred Pune for better living conditions and job opportunities.
North-West Pune Emerges as Top Housing Market
North-West Pune emerged as the most promising housing market in H1 CY’23. The macro-market recorded 10,750 primary housing units sold during the period. Housing sales value in the region reached ₹8,158 crore in H1 CY’23. Furthermore, the market witnessed 100% growth in sales value compared to H1 CY’19. The region also recorded 46% growth in housing unit sales.
Key localities such as Hinjewadi, Wakad, Baner, Tathawade, and Mahalunge witnessed strong demand. Buyers preferred homes priced between ₹45 lakh and ₹70 lakh in the region. However, premium housing demand also increased significantly during the period. Sales contribution from homes above ₹1 crore increased by 349% compared to H1 CY’19. The trend reflected rising demand for premium housing options.
Pimpri-Chinchwad Records Strong Housing Growth
Pimpri-Chinchwad recorded strong housing market growth during H1 CY’23. The macro-market witnessed 113% growth in housing sales value compared to H1 CY’19. Housing sales value in the region reached ₹8,205 crore during the half year. In addition, the market recorded 60% growth in housing unit sales. Affordable housing continued to drive demand across the region.
Key localities such as Punawale, Ravet, Moshi, Chikhali, and Charholi Budruk remained active housing markets. Homes priced below ₹45 lakh dominated housing sales in the region. However, demand for homes above ₹70 lakh also increased sharply during the period. Sales contribution from homes above ₹70 lakh increased by 373% compared to H1 CY’19. The market also attracted several new residential launches.
Premium Housing Demand Continues to Rise
Pune witnessed strong demand for premium housing during H1 CY’23. Housing sales value for homes above ₹1 crore increased significantly across the city. The market recorded a 250% increase in housing value sales for homes above ₹1 crore compared to H1 CY’19. Buyers also preferred larger homes with better amenities and connectivity. Rising income levels supported demand for premium housing projects.
South-West Pune recorded strong premium housing demand during the period. Sales contribution from homes above ₹2 crore increased by 564% compared to H1 CY’19. Localities such as Bavdhan, Kothrud, and Nanded attracted premium homebuyers. The market also witnessed strong demand for homes priced between ₹1 crore and ₹2 crore. Premium housing demand continued to strengthen across Pune.
Pune Housing Market Outlook Remains Strong
Pune’s housing market delivered a strong performance during H1 CY’23. Housing sales crossed 45,000 units during the first half of the year. North-West Pune and Pimpri-Chinchwad remained key growth markets across the city. Premium housing demand also increased significantly during the period.
The report by CREDAI Pune Metro and CRE Matrix highlighted strong momentum in Pune’s residential market. Competitive pricing and infrastructure growth supported housing demand across regions. Buyers also showed stronger interest in premium and larger homes. Pune may continue witnessing healthy housing demand in the coming quarters.
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