Pune’s real estate market experienced a slowdown in early 2025, with home sales dipping by 8% compared to the same period last year. According to a recent report by Knight Frank India, the city witnessed the sale of 16,330 residential units in January 2025, a decline from 17,786 units sold in January 2024. Despite the dip in total transactions, stamp duty revenue remained steady, touching ₹590 crore, slightly higher than ₹589 crore recorded in the previous year.
The slowdown is primarily observed in mid-range housing, particularly in properties priced between ₹25 lakh and ₹1 crore. A key takeaway from the report is the resilience of the luxury housing segment. Demand for homes priced above ₹1 crore has witnessed an uptick, contributing to stable revenue generation despite the overall dip in sales volume.
Breakdown of Home Sales Trends:
- Affordable Homes (under ₹25 lakh): 24% of total sales (up by 2% from last year)
- Mid-Range Homes (₹25-50 lakh): 30% of total sales (down by 2% from last year)
- Upper Mid-Range Homes (₹50 lakh – ₹1 crore): 31% of total sales (down by 2% from last year)
The decline in mid-segment sales indicates a cautious buyer sentiment, possibly influenced by economic factors, interest rates, and inflation concerns. On the other hand, affordable housing continues to attract first-time buyers, while premium and luxury segments remain resilient, driven by high-net-worth individuals seeking exclusive properties.
Experts believe that Pune’s real estate landscape is undergoing a structural shift, where affordability and high-end luxury homes are emerging as the primary drivers. While mid-segment homebuyers adopt a wait-and-watch approach, developers are catering to both budget-conscious buyers and premium clientele.
Going forward, the trajectory of Pune’s real estate market will largely depend on economic conditions, policy decisions, and consumer confidence. As the sector adapts to shifting preferences, industry players remain optimistic about long-term growth, with luxury housing leading the way.
