Supply and Price Trends of Residential Apartments in Pune

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The Pune Metropolitan Region real estate market continues to be in a steady state in terms of demand and supply despite a 14% increase in the gross supply in the past 6 months. The unsold position on an overall basis is at 21% (this was 20% 6 Sobha windsor whitefield months ago and 22% 12 months ago). A total of 1821 residential apartment projects in Pune across the city were surveyed. Those residential projects in Pune that were under construction or ready but with some stock available to sell were considered in the analysis.


The 1821 apartment projects in Pune have a total of 2, 03, 186 residential apartments in Pune at various stages of construction. Of the total 2, 03, 186 residential apartments in Pune, 43, 305 (21%) residential apartments in Pune are available for sale (unsold stock) indicating a sellout of 79% (1, 59, 881 residential apartments in Pune).


The unsold stock 6 months ago was 20% (36, 124 residential apartments in Pune out of 1, 78, 775 residential apartments in Pune) and 22% 12 months ago (38, 323 out of 1, 74, 981 residential Flats in Pune). Overall, the unsold stock continues to be in the range of 20%-22%. The fact that this is on a larger base indicates that apartment projects in Pune are coming on stream within the affordability range of customers.


The total unsold stock has increased by 7181 units (19. 8%) from 36, 124 units in December 2011 to 43, 305 units in June 2012. However, the percentage of units sold from the units launched has remained remarkably consistent with 21% in June 2012, 20% in Dec 2011 and 22% in June 2011.


PRICE TRENDS:


Prices have moved up approx. 14. 08% in the last 12 months (i. e. June -11-June 12), as compared to 10. 66% for 12 months preceding i. e. (June 10 to June 11). The last 6 months has seen the highest increase at 8. 4% for 6 months as compared to the previous four and a half years. The average price across the market in June 2011 was Rs. 3467 per sf. This has moved to Rs. 3647 per sf in Dec 2011 and 3955 per sf in June 2012.


This confirms the trend that has been observed in Pune over the past few years, a strong market with steady absorption of units. This trend is further confirmed when we look at asset price appreciation for the top 20 markets, which stands at a healthy 14% in the past one year.


The Pune Real Estate has shown strong and possibly the safest returns especially when compared with the Sensex which by contrast, witnessed a reduction of 7. 68% in the same period which saw the Pune real estate prices growing by 15%. The Sensex stood at 18, 845 on 30th June 2011 and stands at 17, 398 on 2nd July, 2012.


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