In Bengaluru, the dream of homeownership is beginning to fade for a lot of IT professionals. Confronted with layoffs, shrinking job safety, and the rising impression of Synthetic Intelligence on white-collar roles, a rising variety of techies are backing away from shopping for properties — whilst actual property costs stabilize.
What was as soon as seen as a life milestone and a mark of success — shopping for a house in India’s tech capital — is now being described by many as a monetary entice. On Reddit and throughout tech circles, the dialog has shifted. It’s now not about when to purchase however why to purchase in any respect.
The sentiment is obvious. With a ₹1 crore residence mortgage translating right into a ₹1.3 lakh month-to-month EMI, patrons say the dedication solely is smart in a secure job surroundings. One Reddit person summed it up: “The second your job is gone, arranging ₹1.3 lakh turns into a nightmare.”
The uncertainty is compounded by fast AI adoption. Roles as soon as thought-about future-proof, resembling designers, analysts, and even gross sales executives, are below menace. One person joked, “Even the chilly calls I get from actual property brokers today are from AI bots.”
Many now choose flexibility. Relatively than locking themselves right into a 15-year mortgage, youthful professionals are selecting to lease and make investments their cash elsewhere. “Except I pays upfront, the stress simply isn’t price it,” mentioned a senior engineer with over 10 years of expertise.
Whereas some builders proceed to focus on high-net-worth people and veteran techies who made their cash within the growth years, entry-level and mid-career professionals are stepping again. Worth corrections alone is probably not sufficient. As one person mentioned, “Even when costs fall 40 p.c, techies gained’t leap in blindly. Belief and future worth matter greater than value.”
Builders, nonetheless, stay assured. In response to Sunil Pareek, government director at Assetz, Bengaluru’s property surge post-COVID was a delayed correction after years of stagnation. Regardless of latest layoffs, he sees no value collapse forward. “I anticipate 5 to 7 p.c annual value development, not stagnation,” Pareek mentioned.
Nonetheless, knowledge exhibits a shift. Enquiries in key tech corridors like Whitefield and Sarjapur have dropped by as much as 25 p.c in latest quarters. With fewer large-scale builders and stock holding round 12 to 14 months, provide stays tight — however so does purchaser confidence.
