Pune Sees Unusual Fall in House Prices Despite Nationwide Surge, Know the Shocking Reason Behind it!
Pune Sees Unusual Fall in House Prices Despite Nationwide Surge, Know the Shocking Reason Behind it!
Pune bucks the national trend as property prices dip amid IT sector uncertainty, offering rare buying opportunities in a rising market.
While housing prices are climbing across India, Pune, Maharashtra’s second-richest city has witnessed a rare decline, according to a joint report by Housing.com and the Indian School of Business (ISB). The city is currently the only major urban centre in the country where residential property values have dropped over the past year.
The study attributes this fall to growing uncertainty in Pune’s IT sector, which plays a major role in the city’s economy.
Global economic headwinds, particularly fears of a U.S. recession, have slowed recruitment and shaken job security for IT professionals, traditionally among Pune’s most active homebuyers. As a result, many are postponing big-ticket purchases such as houses.
Fewer buyers in the market have led to downward pressure on prices. However, the report notes an important exception: demand for larger, premium homes, especially 3BHK units remains resilient. Buyers with stable incomes and secure budgets are capitalising on the softer market to upgrade to bigger properties.
Experts suggest this downturn could be a window of opportunity for aspiring homeowners in Pune, allowing them to purchase properties at prices below last year’s levels.
