According to a study by the real estate consulting company ANAROCK, Pune had the third-highest real estate price growth in the nation in 2022. According to the data, the city has absorbed 64,343 units as opposed to the 35,975 units that were sold in 2021.
Because the Covid-caused slump of 2020 and 2021 was finally over, 2022 was a strong year for the real estate sector. The study looked at real estate transactions in seven cities: Mumbai Metropolitan Region, Pune, National Capital Region, Bengaluru, Hyderabad, Kolkata, and Chennai. All of these cities had increases in real estate transactions year over year.
In terms of absorbing new units, Kolkata (62%) and Hyderabad (89%) both had greater expansion than Pune.
Despite a slow rise in property rates, there was an increase in absorption. The increase in rates was brought on by an increase in the price of basic materials like steel and cement. In Pune, the price per square foot was roughly 6,000 rupees as opposed to 5,733 in 2021. The two cities with the largest price increases of 7% were MMR and Bengaluru. The lowest growth rate in the nation was recorded in Kolkata at 4%.
Pune experienced a strong 61% increase in new launches compared to 2021. In 2022, 64,343 units were launched in Pune, compared to 39,869 units in 2021. MMR recorded the most launches, growing at a rate of 114%. In terms of new releases, Chennai and NCR experienced declines of 20% and 19%, respectively.
"2022 has been a wonderful year for residential real estate despite all headwinds," said Anuj Puri, chairman of ANAROCK, "including growing property prices, interest rate hikes, and all geopolitical issues, etc. While new launches remained limited in comparison, housing sales in the top 7 cities exceeded historical highs from 2014.
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