The commercial real estate market in Pune has been steadily growing despite the pandemic and is expected to continue its growth in the years to come. There has been an influx of investors and businesses in the area, which is leading to more demand for commercial properties. This article will provide you an overview of Pune’s commercial real estate market in 2023.
Pune is one of the most important cities in India, and its commercial real estate market is expected to fuel the development of the city. As Pune is home to several major IT firms and educational institutes, demands for office spaces continue to grow.
While examining market trends in Pune, it reveals numerous insights about the development of the real estate industry and the ever-changing demands and interests of investors.
Pune’s real estate market remains vibrant, with low vacancy rates compared to other Indian cities. Driven mainly by strong demand across cities, along with steady growth in capital values in top micro markets locations such as Baner, Aundh and Balewadi.
Commercial Project’s transaction volumes improved significantly throughout 2020 due to strong investments from institutional players. Currently. in 2023 overall grade A office stock reached 1.5 million sq.ft., representing an increase of 11 percent Year-on-Year.
In addition co-working offices have also increased their presence taking advantage of considerable changes towards virtual workplaces made necessary by COVID precautions adopted this past year.
Commercial real estate in Pune is on the rise as the city gears up for an infrastructural expansion in the coming years. As the commercial real estate market in Pune is growing, there are plenty of investment opportunities to capitalise on in the near future. Commercial real estate in Pune is particularly attractive to investors due to the large demand for premium projects, the developing infrastructure and industrialisation.
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