Residential sales in Pune up by 133% in H1, 2022
Maximum sales were recorded in the mid and affordable-segment
Pune, 13th July 2022: Pune recorded the highest quarterly sales and launches since 2008. It saw quarterly sales growth of 7% in Q2 2022. Launches grew by 40% Q-o-Q in Q2 2022. It recorded a growth of 133% in residential sales in H1 2022 in comparison to H1 2021.
“Sales were concentrated in the affordable and mid segments as 29% of the quarterly sales was in the price bracket of less than INR 50 Lakh and 35% in the 50 lakh-75 lakh segment. North-west submarket which includes Balewadi, Hinjewadi, and Wakad witnessed maximum sales in the quarter,” said Sanjay Bajaj, Managing Director, Pune.
Healthy offtake of residential apartments in Q2 2022
The residential market recorded sales of over 53,000 units in Q2 2022 which is an increase of 171% Y-o-Y as compared to Q2 2021 across the top 7 cities. This demonstrates the rising demand due to containment of the pandemic and buyer confidence coming back to the market. On a sequential basis, sales increased by 3% during the quarter. Appreciation in residential prices due to rising input costs and interest rates led to almost flat sequential growth in Q2 2022. Mumbai is the largest contributor to sales (23%) followed by Bengaluru with 21% and Delhi NCR with 19% of the overall sales.
Pune recorded a sales growth of 146% Y-o-Y to 8,704 residential units in Q2 2022 from 3,539 units in Q2 2021.
|Q2 2021 (units)||Q1 2022 (units)||Q2 2022 (units)||Q-o-Q Growth (%)||Y-o-Y Growth (%)|