2023 Real Estate Market Outlook

Property Pricing Trends Pune

• Property rates will rise by 5-7% • Considerable demand for real estate in tier 1 cities • Hiring to grew in real estate in the coming year

Heightened Conditions between Ukraine & Russia

• Rising cost in raw materials • Steel saw an increase of over 120% • Cement saw an increase of 40% • Building prices gone up by Rs 500 per square foot • Construction expenditures account for 30-40% of the overall cost

Increase in the Rate of Interest

• Spiking home prices & rising interest rates • Impact by rising inflation • Increase in rental prices as well

Homebuyer’s Outlook For the Industry

• Customer confidence improved since the pandemic • Depreciation of rupee’s value to entice NRIs to invest • Investors & homeowners drawn to business sector in addition to residential