Pune is an outlier among India’s major cities. Most see property prices rise. Pune, however, is seeing a decrease. This is happening even as demand, city growth, and luxury markets expand.
A report from Housing.com and ISB shows this. Pune’s Housing Price Index fell by 4 points. Other cities like Bengaluru and Hyderabad saw prices climb. Their tech economies are strong.
Why are Pune’s prices falling? Experts point to the IT sector. Global economic worries loom. A U.S. slowdown is a concern. Pune’s IT buyers are hesitant to invest big. Buying a home is a large investment.
This caution affects sales. Slow sales reduce price growth. Pune’s property prices are moving down. Most other cities are moving up.
Not all buyers are affected. Demand for bigger homes stays strong. Buyers with larger budgets still invest. They want spacious or luxury homes. The price dip is mostly in mid-range homes. Affordable housing also shows this trend.
What is happening elsewhere? Bangalore and Hyderabad prices rose. Their tech workforces are growing. These cities attract young, high earners. They drive the housing market. This is especially true for premium apartments.
Nationwide data shows a different story. Property prices in India’s big cities grew 48% in five years. Pune’s recent drop is unusual. The market is otherwise doing well.
Pune’s price dip may not mean a crash. It could be a short correction. Global economic doubts and buyer feelings play a role. Pune remains a key real estate center. It is important for tech workers. Future quarters will show if this trend continues. Pune might join other cities with rising prices.