Bengaluru tech sector slowdown impacts real estate investments

Bengaluru's real estate market is facing challenges as the tech sector slows down. Many IT professionals are discussing whether now is the right time for them to invest in housing. A recent discussion on Reddit highlighted concerns about job security and rising mortgage payments. Some users pointed out that with increasing layoffs and hiring freezes, IT professionals may need to rethink their financial plans. One commenter noted that buying a home now could be risky due to potential unemployment. They emphasized that a few months without a steady income could lead to serious financial issues. However, others warned that waiting to buy could result in even higher property prices in the future. For example, a house that cost ₹1 crore a year ago is now priced at ₹1.8 crore. Experts suggest that delaying purchases could push buyers away from the city as prices climb higher. Many Redditors agree that the previous boom in real estate, driven by IT professionals, is slowing down. The changing job market is impacting demand for housing. With many tech jobs uncertain and layoffs reported, the urge to purchase homes is decreasing compared to previous years. A user in their 50s advised against rushing into home ownership. They encouraged future buyers to think long-term, especially as family needs change. The advice included saving for larger down payments and considering older properties, which can often be more affordable and located in better areas. This thoughtful approach may help buyers navigate the current market challenges more effectively.