Pune Maintains Strong Position in Housing Sales Despite Yearly Decline
Pune, 25th October 2024: The housing market in Pune has experienced significant fluctuations in the third quarter of 2024, reflecting broader trends across major Indian cities. According to the latest report, Pune ranked as the fourth-largest city in terms of new residential launches among India’s top seven metropolitan areas.
During this quarter, Pune accounted for approximately 12,400 new residential units, representing 13% of all new launches across these top cities. However, this marks a notable decline, with a 34% decrease compared to the previous quarter and a substantial 50% drop year-over-year.
Despite the decline in launches, Pune maintained its position as the second-largest contributor to housing sales among the top seven cities in India. The city saw over 19,000 units sold in Q3 2024, securing an 18% share of residential sales. Nonetheless, this figure reflects a 10% decrease quarter-over-quarter and a 17% decline year-over-year.
The current trends in Pune’s housing market highlight the challenges faced by both developers and buyers. While the city remains a key player in India’s real estate landscape, the significant drop in both launches and sales underscores the need for strategic measures to stimulate growth and confidence in the sector.
