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Pune MarketBeat Reports

19/10/2022
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: In Q3 2022, Pune witnessed a gross leasing volume (GLV) of 1.66 msf which is a phenomenal 121% growth on a y-o-y basis. Fresh leasing was the main driver of leasing activity accounting for 48%, followed by term renewals accounting for 28%. The net adsorption rate jumped approximately 4 times compared to the same time last year. Leasing in Pune is expected to remain strong as occupiers across all sectors look at bringing employees back to the office at a much faster pace.

Residential: In Q3 2022, Pune’s residential market recorded a growth of 55% y-o-y with the quantum of launches year till date 2022 – this has highlighted the strong momentum and developer confidence in the city’s residential market. Pune has been witnessing a steady amount of project launches from developers of national repute, and the mid-segment has dominated Q3 2022 launches with a share of 80%.  

RetailIn the third quarter of 2022, Pune recorded an approximate 140,000 sft of leasing – a jump of 43% q-o-q and an 8X increase compared to the same time last year. The festive season is expected to have a positive impact on retailers’ sales and leasing activity. 

Learn more by clicking our most recent Pune MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Pune Office Report

Healthy leasing in Q3 2022 with limited new supply has resulted in a 1-2% increase in overall city rentals. The positive outlook in the leasing market will be the cause of improving rental values in the upcoming quarters.

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Shopping Retail
Pune Retail Report

Rentals in Pune’s main streets are expected to remain range-bound in the upcoming quarters. Q3 2022 also witnessed a drop in vacancy levels to 6.6% due to strong leasing activity.

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Warehouse Internal Rack
Pune Residential Report

Growing demand and rising input costs have resulted in a gradual increase in capital values, with quoted capital values increasing by 3-5% q-o-q across all submarkets of the city. Employees returning to office proceeding at a much higher pace than anticipated causing a q-o-q rise of 2-4% in rental values, and is expected to rise further.

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Warehouse Internal Rack
India Investment Report

The third quarter recorded private equity investment inflows of INR 131.2 bn (USD 2.27 bn), a near 1.3x growth in investment receipts as compared to the previous quarter and same period last year (Q3-21).

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Warehouse Internal Rack
Pune Industrial Report

Warehouse and industrial leasing transactions of 5.91 msf were recorded in Pune, resulting in a y-o-y growth of 75%. Industrial usage spearheaded the demand with 70% share, while the rest was by warehousing. The renewed confidence in the Indian economy, e-commerce, and 3PL sectors drove the growth. Going forward, Pune’s L&I growth is expected to be dominated by manufacturing companies. 

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