Buyer sentiment strong in housing segment, says Magicbricks survey

April 25, 2024

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Housing sentiment remains robust across the country with strong buyer confidence undeterred by inflationary pressures, according to the findings of a survey by Magicbricks, covering more than 4,500 customer respondents across 11 cities between March and April.

The real estate platform unveiled its flagship Housing Sentiment Index (HSI) report, reflecting a positive outlook for the residential real estate market, with an overall HSI of 149.

Ahmedabad took the lead with the highest HSI of 163, closely trailed by Kolkata (160), Gurugram (157), and Hyderabad (156), driven by improved infrastructure and forthcoming real estate ventures.

Sudhir Pai, CEO, Magicbricks said, “The current scenario of India’s real estate sector reflects the most promising conditions witnessed in the past decade, instilling confidence among homebuyers and investors nationwide. It’s also noteworthy that the demand is consistently surpassing available supply, showing encouraging signs of swift absorption when new inventory enters the market.”

The report noted that mid-age professionals (aged 24-35) exhibited the highest HSI at 154. Moreover, consumers with annual incomes of ₹10-20 lakh showcased the strongest aspirations for home buying, boasting an HSI of 156.

  • Published On Apr 25, 2024 at 09:01 AM IST

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