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%.
Retail: In 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.
