Pune's Office and Residential Markets Show Resilience Despite YOY Declines
Pune's office and residential markets have shown resilience in Q3 2025, despite year-over-year declines in transaction volumes. The office market recorded 2.3 million square feet of transactions, while residential sales saw a 5% increase in prices.
Pune Real EstateOffice MarketResidential MarketPremiumisationKnight Frank IndiaReal Estate PuneOct 14, 2025
Pune Residential Market Highlights – Q3 2025
Pune’s residential sales volume in Q3 2025 was 12,118 units, an 8% YoY decline compared to the base period. Despite the moderation in sales volume, the city’s residential prices saw a steady 5% YoY increase. This was driven by a continued preference for larger and more premium homes, reflecting the overall trend of premiumisation in the market.
P Vilas, National Director – Occupier Strategy & Solutions, Industrial & Logistics, Capital Markets, and Branch Head (Pune), Knight Frank India, said, “Pune’s residential market is undergoing a phase of recalibration after the strong growth seen in 2024. Premium housing continues to drive momentum, and with supportive policies and infrastructure upgrades, the city’s residential sector is poised for steady performance in the medium term.”
Pune Office Market Highlights – Q3 2025
Despite facing a moderate 9% YoY decline in transaction volumes due to the strong base of Q3 2024, Pune’s office market remained steady in Q3 2025 with 0.22 million square meters (2.3 million square feet) transacted. Importantly, the city’s year-to-date leasing activity registered a 7% growth, highlighting the consistent occupier appetite.
On the supply front, 1.1 million square feet of new office space was delivered during the quarter, marking a 60% YoY decline. This pullback in supply, along with resilient demand, is reflected in the strong double-digit growth in office rentals seen during the quarter.
Mr. Vilas further added, “Pune’s office market continues to display resilience with YTD growth of 7%. Occupier demand remains healthy, led by global capability centres (GCCs) and flex space operators that see Pune as a cost-effective hub with strong talent availability. With rentals moving upward by 4% YoY, the city continues to cement its position as a preferred occupier market in India.”
Frequently Asked Questions
What was the office market transaction volume in Pune for Q3 2025?
Pune’s office market recorded 2.3 million square feet of transactions in Q3 2025.
How much did Pune's residential sales volume decline YoY in Q3 2025?
Pune’s residential sales volume declined by 8% YoY in Q3 2025.
What is the trend in residential prices in Pune?
Residential prices in Pune increased by 5% YoY, driven by a preference for larger and more premium homes.
How much new office space was delivered in Pune during Q3 2025?
1.1 million square feet of new office space was delivered in Pune during Q3 2025.
What factors are driving the office market in Pune?
The office market in Pune is driven by global capability centres (GCCs) and flex space operators, which view Pune as a cost-effective hub with strong talent availability.
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