Pune’s property market is booming, with registrations hitting 190,000 in 2024, a 25% increase from last year, according to Knight Frank India.
The demand for homes, especially those priced at INR 1 crore and above, has surged. In December 2024, this segment grew from 12% to 15% of the market. But don’t worry, homes in the INR 50 lakh to 1 crore range are still the favorites among buyers.
Interestingly, larger apartments are also gaining popularity. The share of apartments over 800 sq ft increased from 28% to 30% in just a year. It seems like folks are looking for more space, likely influenced by the pandemic experience.
Central Pune is still the hotspot, accounting for 82% of residential transactions in December 2024. However, other areas are starting to catch up as new developments pop up to meet changing buyer preferences. West Pune, for instance, saw its share rise to 11%.
Overall, the Pune residential market is thriving, driven by a mix of economic growth and changing lifestyle needs. It’s an exciting time for homebuyers and investors alike!