New Delhi, October 16, 2024: With expectations of capital appreciation and rising rental yields, the homebuyer sentiment continues to grow strong, revealed Magicbricks’ latest Housing Sentiment Index (HSI). Based on a survey of over 2100 customers, the report indicates that the customer housing sentiment has increased from 149 to 155 in just 6 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.

Abhishek Bhadra, Head of Research at Magicbricks, offered a comprehensive analysis of the report’s findings: “Strong Housing Sentiment Index reflects growing confidence in the real estate sector, driven by factors such as increasing incomes and financial stability. The luxury segment, in particular, is gaining traction, and investors are prioritizing returns on investment, rental yields, and the long-term security of property ownership. Looking ahead, we expect this momentum to persist, fueled by ongoing urbanization, rising incomes, and favorable government policies designed to boost residential demand.”

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

The report further highlights 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.