Propindex Pune OND2019.Pdf
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PropIndex | Magicbricks Pune Q4 2019 Residential Market Insights Market Dynamics End-users dominated the market with preference for established localities Parameters India Pune Despite piling inventory and unfavoured macroeconomic conditions, Pune has been witnessing consistent price Demand+ +4.0% +0.2% appreciation over the last five years. With about 8% returns over the previous 5 years, although investors remained Supply++ +1.5% -4.1% at bay, the market stayed attractive for end-users. The QoQ trend shows a little stagnancy in the price movement, Price Index+++ +1.2% -0.6% but demand is up, and inventory seems to be slowly wiping away from the market. Notes: The key trend we identified in our data mining process is that the buyers are inclined to buy properties in the + represents the QoQ change in volume of property searches on Magicbricks website in Q4 2019 established residential micro-markets which are close to the IT corridor and upcoming Pune metro corridors. The ++ represents the QoQ change in v volume of active buyers are looking for well-developed social infrastructure, proximity to their workplaces and advantage of listings on Magicbricks website in Q4 2019 forthcoming metro line. +++ represents the QoQ change in the weighted average price at India and city level.. Ready to Move Price Index Key Developers based on active listings 8,000 "The slow but steady Kolte-Patil Developers rise in city prices came Marvel Realtors 7,000 to a halt this quarter, f Rohan Builders s f p s witnessing a marginal e p VTP Realty c i R r N 6,000 decline 0.6% QoQ of " P I . Godrej Properties e g c v i r A Kolte Patil Developers P e g Nyati Group a 5,000 r e v Goel Ganga Developments A 5 Year Kumar Properties 4,000 Change YoY QoQ 4 5 6 7 8 9 0 Pride Purple Group 1 1 1 1 1 1 2 8.2% 1.5% -0.6% 0 0 0 0 0 0 0 2 2 2 2 2 2 2 Note: Notes: The above table represents the top developers by number 1. Ready to move price index represents the weighted average price of completed properties listed in the city on Magicbricks website as on Q4 2019 of active listings on Magicbricks website in Q4 2019 2. The data represrents price trend for properties in multistorey and builder floors only Source: Magicbricks Research Source: Magicbricks Research Under Construction Price Index Key Projects based on "Under construction consumer searches City Price Index prices almost stagnant 8,000 with a marginal Nanded City Sinhagad Road Rohan Mithila Viman Nagar f s increase of 0.2% QoQ, p 7,000 Hinjewadi R under pressure from Xrbia Hinjewadi N f I s e p Future Towers Amanora Park Town c i e the unsold supply in r c i P r 6,000 Amanora Park Town e Amanora Neo P g . peripheral areas" a g r v e Abhiruchi Parisar Sinhagad Road A v A 5,000 Hari Ganga Vishrantwadi 5 Year Rohan Kritika Sinhagad Road Change YoY QoQ 4,000 Life Republic Hinjewadi 4 5 6 7 8 9 0 1 1 1 1 1 1 2 8.5% -0.2% 0.2% 0 0 0 0 0 0 0 Pride World City Charholi Budruk 2 2 2 2 2 2 2 Notes: Note: 1. Under-construction price index represents the weighted average price of under-construction properties listed in the city on Magicbricks website as on Q4 2019 The above table represents the top projects by consumer 2. The data represrents price trend for properties in multistorey and builder floors only preference on Magicbricks website in Q4 2019 Source: Magicbricks Research Source: Magicbricks Research QoQ changes in various price segments Key Trends to Watch Out Price Bracket (INR/sqft) - Localities along the two under- < 5000 5000-7500 7500-10000 > 10000 construction metro corridors (PCMC- Swargate and Vanaz-Ramwadi) 1.6% "Price decline was most witnessed positive price movement, and the same trend is expected to continue 0.4% visible in the 'above as both lines near completion 10,000 per sqft' - IT led commercial development is likely -0.5% -0.4% segment', falling 2.2% to remain the prime residential demand -1.1% and 3.9% respectively driver in Pune market with middle-class -1.6% buyers leading the demand for the -2.2% for RM and UC residential segment segments " - End-users to dominate the market with ready to move property preference in -3.9% established localities due to ample RM UC RM UC RM UC RM UC option available. Note: Above table represents the price changes for Ready to move (RM) and Under construction (UC) properties on Magicbricks website in Q4 2019 for various price buckets Source: Magicbricks Research © magicbricks.com Page 1 Demand Supply Analysis Pune Q4 2019 The middle-class in the driver's 2BHK most preferred and available configuration in the city seat DEMAND SUPPLY With respect to property prices, the developers Above 3 BHK Above 3 BHK in the Pune market have been able to match the 1 BHK 4% 4% supply in line with the consumer demand, 1 BHK 18% 3 BHK 3 BHK resulting in consistent uptake for the last seven 28% 20% 25% years. "Properties costing less than INR 7,500 per sqft define the 2 BHK Pune residential market, with 2 BHK 48% 53% 75% of both demand and supply Notes: concentrated within this 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by Bedroom, Hall, Kitchen (BHK) configuration 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by BHK configuration budget." Source: Magicbricks Research - The 'INR 5,000-7,500 per sqft' segment, which is targeted towards the middle class, formed the (Price in INR per Sqft) highest proportion of the consumer searches in Mid-segment properties most sought after Pune for the quarter, and also witnessed minimal price movement during the period, at a time when prices fell in all other price segments. DEMAND Price buckets in INR per sqft SUPPLY Price buckets in INR per sqft > 10000 > 10000 - The city's rapid expansion has pushed 8% 7% 7500-10000 residential development in the north and east 7500-10000 < 5000 < 5000 17% direction near employment hubs. 17% 34% 31% - Airport Road and Hadapsar micro-markets have witnessed maximum consumer activity, as the area emerges as an IT/ITES and office cluster. - Baner micro-market has witnessed rapid development due to its proximity to Rajiv 5000-7500 5000-7500 Gandhi Infotech Park, availability of developable 41% 46% space, good social infrastructure, and road connectivity . Notes: 1. Demand represents property searches on Magicbricks website during Q4 2019, segregated by price buckets 2. Supply represents active listings on Magicbricks website during Q4 2019, segregated by price buckets Source: Magicbricks Research Top Micromarkets by consumer Propensity of demand and supply in terms of searches Demand/Supply Demand searches and listings by localities Micro-Market Price Range Q4 Rank Q3 Rank Chakan Airport Road 5227 - 13043 1 2 Hadapsar 3636 - 9794 2 1 Talegaon Dabhade Baner 5275 - 9302 3 4 Kondhwa-Wanwadi 4236 - 10700 4 5 Dhayari-Narhe 3590 - 8135 5 7 Wakad 5208 - 8932 6 3 Chikhali Pimple Saudagar 5215 - 8159 7 6 Moshi Nigdi Note: 1. Top micro-markets of the city, ranked by number of searches on Magicbricks in Q4 2019 Chinchwad Gaon 2. Price ranges represent the range of avg locality prices in the Dighi micromarket in INR per sqft. Source: Magicbricks Research Hinjewadi Phase 1 Lohgaon Top Micromarkets by active Wagholi listings Sus aMicro-Market Price Range Q4 Rank Q3 Rank Pashan Manjri Airport Road 5227 - 13043 1 1 Hadapsar 3636 - 9794 2 2 Bhugaon Hadapsar Wagholi 3548 - 5480 3 3 Warje Baner 5275 - 9302 4 4 Phursungi 5 5 Shivane Wakad 5208 - 8932 Undri Hinjewadi 4042 - 6793 6 8 Dhayari Katraj Undri-Pisoli 3710 - 7886 7 6 © OpenStreetMap contributors Note: Note: 1. Top micro-markets of the city, ranked by their active listings on 1. Above map depicts the key localities of the city, with the size of the bubble depicting demand (consumer preference) /supply (active listings) for Magicbricks in Q4 2019 properties in the localities on Magicbricks website in Q4 2019 2. Price ranges represent the range of avg locality prices in the 2. This is an interactive map available on Magicbricks.com under Propindex section. micromarket in INR per sqft. Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. Source: Magicbricks Research Source: Magicbricks Research © magicbricks.com Page 2 Price Analysis Pune Q4 2019 Q4 2019 Price changes for the city's major localities Chakan 0.8% Talegaon Dabhade -2.3% Chikhali -3.5% Moshi -5.5% Pimpri 4.1% Hinjewadi -5.8% Wagholi -7.1% Sus 2.2% Manjri 1.3% Bhugaon 0.2% Phursungi Shivane 3.9% 0.4% Undri Katraj -1.0% -0.6% © OpenStreetMap contributors Note: Avg Price Change %ge 1. Size of the bubble depicts demand, measured by volume of property searches in localities in Q4 2019 2. Color of the bubble represents price change in Q4 2019, with green color representing price increase and red color price decrease. -7.5% 7.5% 3. This is an interactive map available on Magicbricks.com under Propindex section. -5% -2.5% 0% 2.5% 5% Please go to https://property.magicbricks.com/microsite/buy/propindex/ to access the full dashboard. - The effects of a high level of unsold inventory was felt across the peripheral localities, with prices falling in all cardinal directions.