Pune Housing Sales Drop 20% in 2025, Sharpest Decline Among Major Indian Cities
Pune's previously thriving housing market faced challenges in 2025. Sales dropped by 20% compared to the previous year, falling from 81,090 units in 2024 to just 65,135. This marks the second-largest decrease among major cities, following Hyderabad's 23% decline, while Mumbai experienced an 18% drop.
Experts highlight a confluence of issues. Geopolitical unrest created anxiety. Layoffs in the IT sector resulted in job losses and decreased confidence. US tariff increases further strained spending abilities. Overall, sales across India’s seven key cities saw a decline of 14%.
Key Factors Behind the Decline
- IT Layoffs and Job Insecurity: Pune's status as a tech hub backfired as many lost their jobs, leading to delays in purchasing homes.
- Price Increases and Affordability Issues: Sales of homes priced below Rs 50 lakh fell by 5-30%. Premium segments remained stable, but average buyers held off on decisions.
- Geopolitical and Tariff Issues: Global developments and US policies negatively affected exports, putting additional pressure on finances.
- High Comparison Base from 2024: The record sales from last year made this year’s performance look worse.
Data from Propertywala.com reveal unsold inventory surged to over 77,800 units by the end of the year, with the overhang exceeding 10 month, the longest period since 2020.
City-Wise Sales Snapshot
| City | 2024 Units | 2025 Units | Decline |
|---|---|---|---|
| Pune | 81,090 | 65,135 | 20% |
| Hyderabad | - | - | 23% |
| Mumbai | - | - | 18% |
| Bengaluru | 65,225 | 62,205 | 5% |
| Top 7 Cities | - | 3,95,000 | 14% |
PCMC and central Pune continue to lead registrations, but emerging growth corridors show promise. In October 2025, there were 12,693 registrations, a decline of 39% year-on-year, yet stamp duty revenue reached Rs 527 crore.
Signs of Premium Growth Amidst the Slowdown
Not all is negative. There’s rising interest in larger apartments and premium projects, with capital values increasing significantly. Mid-range homes (up to Rs 1 crore) accounted for 85% of sales, showcasing their resilience.
The second quarter of 2025 was particularly harsh, with a 20% drop to 96,285 units across major cities. Pune experienced the largest decline at 15%. The unsold stock saw a slight increase to 562,000 units nationwide.
What’s Next for Buyers and Investors?
Buyer confidence is gradually returning. Seasonal trends and steady demand suggest the market could be nearing stability. Even so, high inventory and pricing pressure continue to keep buyers cautious. First-time buyers are focusing on budget-friendly locations, while investors are still exploring premium properties with long-term potential.
Pune's market is evolving beyond the festival-induced spikes. Keep an eye out for potential rate cuts or a recovery in the IT sector that could revive the market. For the moment, it manoeuvres through turbulent waters with a foundation of enduring strength.