In the world of real estate, where you choose to invest can make all the difference. While Mumbai and Bangalore often steal the spotlight, there’s a new star on the horizon: Pune. This bustling city has quietly become India’s most affordable and preferred metro city for real estate investments. Let’s dive into the details of why Pune is stealing the show.
Imagine a city where real estate is not just booming, it’s giving larger cities a run for their money. Well, that’s exactly what’s happening in Pune. According to the CRE Matrix Report released by CREDAI Pune Metro, Pune has witnessed an astounding 90% growth in real estate transactions compared to 2019. Yes, you read that right – a whopping 90%!
One of the main reasons why Pune is shining so brightly is its affordability. Pune’s real estate market isn’t just growing; it’s also incredibly pocket-friendly. This affordability factor is drawing both investors and first-time homebuyers to the city in hordes.
If you’re wondering just how affordable Pune is, consider this: the average property price in Pune is significantly lower than that of its metropolitan counterparts. It’s a place where your real estate dreams can turn into reality without breaking the bank.
Insights from the CRE Matrix Report
Now, let’s take a closer look at the numbers. The CRE Matrix Report reveals that Pune is leading the pack when it comes to real estate growth. In the first half of 2023, Pune’s housing market, excluding re-sales, recorded sales of over 45,000 units worth a staggering Rs. 28,000 Crore. This is a jaw-dropping 90% growth compared to the same period in 2019.
Ranjit Naiknavare, President of CREDAI Pune Metro, couldn’t be happier. He said, “Pune’s real estate market has done phenomenally well in the last four years.” It’s clear that Pune is on a remarkable journey, and investors are reaping the benefits.
But what’s driving Pune’s real estate success? According to Abhishek Gupta, CEO of the CRE Matrix, Pune has taken full advantage of favorable conditions. In the first half of 2023, Pune witnessed a 40% spike in total sales compared to 2019. That’s no small feat!
Not only is Pune selling more properties, but the average property price has also gone up by 37% compared to 2019. This suggests that the city is witnessing a surge in both property sizes and prices. In fact, properties priced above ₹1 Crore have seen a staggering 250% increase in sales during the same period.
In a world where real estate investment options abound, Pune has emerged as a standout choice. It’s affordable, it’s growing at an astonishing pace, and experts agree that it’s on the right track for continued success.
So, whether you’re a seasoned investor or a first-time homebuyer, don’t overlook Pune when considering your next real estate move. With its affordability and impressive growth, Pune is not just a city; it’s a golden opportunity waiting to be seized. Make your move and be a part of Pune’s real estate success story.
