A Bengaluru landlord recently faced a loss of over ₹1 lakh after refusing to lower the ₹23,000 rent for a room in a 3BHK near Whitefield. The property remained vacant for five months. Many landlords in the city are holding firm on high rents, hoping to capitalize on increased demand as employees return to offices post-pandemic.

Bengaluru’s real estate market, usually driven by the IT sector, is now struggling. Job uncertainty and layoffs have made tenants more cautious with their rental expenses. Experts suggest landlords adjust rents based on market conditions to avoid vacancies.

While some landlords traditionally lower rents after a few months, many are now sticking to higher prices. This could lead to longer vacancies and greater financial losses. Some of the prime areas like Koramangala and Indiranagar are seeing high rental prices, with 3BHK apartments renting for up to ₹1.5 lakh per month.

On the other side, demand for property in Bengaluru, including PG hostels, are not seeing much footfalls due to layoffs, eventually paving way for lower demand.