Homebuyer Sentiment Up on Capital Appreciation: Magicbricks

New Delhi, Oct 15 (PTI) Homebuyers' sentiment remains strong on expectations of rise in capital and rental values of residential properties, according to Magicbricks.

Real estate platform Magicbricks on Tuesday released 'Housing Sentiment Index' (HSI).

"With expectations of capital appreciation and rising rental yields, the homebuyer sentiment continues to grow strong," Magicbricks said in a statement.

Based on a survey of over 2,100 customers, the report indicates that the customer housing sentiment index has increased from 149 to 155 in just six months (April vs September 2024).

Investor sentiment was also notably robust in Noida and Greater Noida, both recording a high HSI score of 163, while cities such as Gurugram, Ahmedabad, and Hyderabad followed closely with scores of 160 each.

Conversely, markets like Delhi (HSI score 151), Bengaluru, and Mumbai (HSI score 148) exhibited relatively lower sentiment, likely attributable to rising property prices.

The survey also underscored growing confidence among homebuyers and investors within the luxury segment, where properties priced between Rs 3.5-5 crore showed an HSI score of 162.

The report further highlighted that the HSI score for under-construction properties continued to improve from 157 in April 2024 to 161 in September 2024, indicating customer confidence towards upcoming developments and projects.

As one of the leading platforms for buyers and sellers of property to connect in a transparent manner, Magicbricks has monthly traffic exceeding 2 crore and an active base of over 15 lakh property listings.

Magicbricks is a full-stack service provider for all real estate needs, with services including home loans, interiors, and expert advice.