Gera Pune Res­i­den­tial Realty Re­port July’18

Realty Plus - - News -

Gera De­vel­op­ments on July 4th pre­sented the Gera Pune Res­i­den­tial Realty Re­port for July 2018. The re­port re­veals the steep drop in the num­ber of new apart­ments in Pune. From a peak in­ven­tory avail­able for sale at 107,402 apart­ments in June ‘16 the in­ven­tory avail­able for sale cur­rently stands at 79,546 apart­ments. Key High­lights of the re­port:

• De­vel­op­ers have cut back sub­stan­tially on new project launches

• Sales too have con­tin­ued to see a drop on a Y-O-Y ba­sis

• The av­er­age res­i­den­tial prop­erty prices con­tin­ued to de­crease on an over­all ba­sis, for the fifth con­sec­u­tive half-year track­ing pe­riod

• The av­er­age city-wide prices have come down on ac­count of lower priced new in­ven­tory

• The sil­ver lin­ing? - Un­sold in­ven­tory per­cent­age is near a 4.5 yr low

• Vis­i­ble signs of con­sol­i­da­tion tak­ing place in the mar­ket

• Sales in the value seg­ment have picked up

• Home sizes have been de­creas­ing con­sis­tently Ro­hit Gera, Manag­ing Di­rec­tor, Gera De­vel­op­ments said, “de­vel­op­ers have cut back sub­stan­tially on project launches. With the im­ple­men­ta­tion of RERA, cap­i­tal has been forced to flow to­wards project ex­e­cu­tion, which has con­trib­uted to the slow-down in launches of projects. Sales too have con­tin­ued to see a drop on a year on year ba­sis. The im­pact of slower sales is also vis­i­ble on the rates. The re­duc­tion of project launches how­ever, has led to some good news in terms of per­cent­age of in­ven­tory avail­able for sale, at 26.29% of the to­tal in­ven­tory avail­able. This per­cent­age of un­sold in­ven­tory is near a 4.5 year low.”

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