More properties
in Pune were sold in January of this year than had been sold in
December of last year. New launches increased by a whopping 166 percent in
January of this year compared to the month before while sales increased by 53
percent compared to December of last year. Hence while January offered reasons
to cheer to those employed in the real estate sector, February was a downer.
The February Report Card
In February of this year new launches declined by
nearly seventy six percent when compared to the month before. Furthermore home
sales were nine percent lower when compared to home sales in January which
almost certainly dampened the mood of real estate developers in Pune,
especially if they had expected the momentum gained in January to continue into
the following month.
To add to the gloomy February report card, new
launches this February fell seventy percent when compared to February of last
year while the sales of new homes fell by 35 percent compared to February of
last year. If this were not bad enough, the price at which properties in Pune
were bought and sold this February also dropped by three percent since last
year.
Pune's Top Performers
While the report card was gloomy, there were a few
localities in Pune that performed well this February. The locality of Wakad
with a large number of luxury apartments
in Pune performed well. The price range at Wakad is between 5,700 to
6,400 rupees per square foot and many homes here are regarded to be part of
Pune's premium residential market. Ravet a locality that offers housing in the
mid segment also performed well; prices here are approximately 4,800 rupees per
square foot. The locality of Mundhwa did well this February with respect to
real estate even while most of Pune's real estate markets performed shabbily.
At Mundhwa prices begin from 5,200 rupees per square foot and the locality was
among the top performers in Pune's real estate market.
February a Minor Setback?
There are numerous realestate
developers in Pune who have plans to launch projects over the next few
months. Despite the poor show this February, the real estate sector in Pune,
say experts, has a bright future ahead of itself.
No comments:
Post a Comment