Pune Has Highest Number Of Young Property Buyers: Report

ST CORRESPONDENT
Wednesday, 25 September 2019

“As Pune is the IT hub and a lot of youngsters belong to the working class, they mostly prefer buying compact one or two BHK flats. They are actively investing in the real estate especially in western Pune,” said Ranjit Naiknavare

PUNE: As per a report published by NoBroker.com, Pune has the highest number of young property buyers. The website’s sales data of the past one year (August 18-August 19) reflects that Pune aces ahead of other cities with 67% of the younger population investing in property.

However, the builders association feels that upcoming infrastructure such as airport, metro and various townships along with the growing IT hub and professionals in the city have increased the number of young buyers.

As per the report shared by NoBroker.com, the highest number of people between the ages of 25-34 were looking for properties in the range of Rs 30-55 lakh. The most sought after areas in the city are Hadapsar, Wakad, Pimpri-Chinchwad, Hinjawadi and Baner. 

However, Pune was followed by Bengaluru, Mumbai and Chennai with 57%, 52% and 46% home buyers respectively. “As Pune is the IT hub and a lot of youngsters belong to the working class, they mostly prefer buying compact one or two BHK flats. They are actively investing in the real estate especially in western Pune,” said Ranjit Naiknavare, Vice President Confederation of Real Estate Developers Association of India (CREDAI) Pune Metro.

“Since Pune is the IT hub and education centre, a lot of youngsters live in the city. Mostly, young couples work in IT sectors and have a good investment capacity in the real estate. Secondly, the upcoming infrastructure like the new airport, metro and townships are motivating them to invest in the city,” said Shantilal Kataria, Vice President of CREDAI, National.

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