With highest number of people between the ages 25-34 investing in real estate, Pune scores ahead of Bangalore, Hyderabad, and Mumbai.
Amidst reports of slowdown in real estate, the city of Pune has observed an interesting insight. Pune bucks the trend with maximum number of youngest home-buyers. Sales data for August 2018- September 2019 from NoBroker, India’s largest C2C platform that connects home-buyers and home-owners directly, reflects that Pune aces ahead of other cities with 67% of younger population investing in property.
The most active age group that is investing in real estate in Pune is 25-34. People in this age group are looking for properties in the range of 30-55 lacs. A major reason for this trend is an ever-increasing number of IT professionals who by virtue of having a stable fixed income find it much easier to plan their first residential investment.
The given statistics could also be credited to the very nature of the city’s development. Pune has a developed at a hyper-local level. For instance, emergence of IT parks in Baner happened simultaneously with emergence of residential pockets in Baner. It is much easier for someone working in an area to buy a home close by in Pune.
Most sought after areas that this demographic is investing in are Hadapsar, Wakad, Pimpri-Chinchwad, Hinjewadi and Baner. A lot of gated societies have sprung up around these areas in the recent years and 2 and 3 BHKs are popular choices.
The rising number of professionals with ready capital combined with good offers on unsold inventory is giving impetus to the real estate market in Pune which is currently an end-user’s market. We have also observed that this demographic, DINK couples, is more keen on buying ready-to-move in properties.
Bangalore, Mumabi and Chennai follow with 57%, 52% and 46% respectively.
[This is an article shared by Nobroker.com and All views, opinions and expressions are personal and limited to the sender.]