New Delhi: Consumer sentiments in India's housing market remain positive despite rising prices, according to realty portal Magicbricks.
On Thursday, Magicbricks released the 'Housing Sentiment Index', a report based on a survey of over 4,500 customers across 11 cities.
"Despite inflationary pressures, the Housing Sentiment Index (HSI) across India remains strong with strong buyer confidence," it said in a statement.
The survey revealed a positive market outlook for the Indian residential real estate sector with an overall HSI of 149.
Magicbricks said the HSI is derived from an online survey, which included responses from 4,500 high-intent home buyers across different income groups and budget preferences across India's top 11 cities.HSI scores range from 0 to 200, with 100 representing neutrality. Signaling expectations of market stability in the short to medium term. A score of 20 indicates bullish sentiment while a score of 0 indicates bearish sentiment.
"Currently, the All India HSI stands at 149, reflecting the optimistic outlook of potential home buyers," the report said.
Ahmedabad emerged as the leader with the highest HSI of 163, followed by Kolkata (160), Gurugram (157), and Hyderabad (156), driven by advanced infrastructure and upcoming new real estate projects.“The current scenario of India's real estate sector reflects the most promising conditions seen in the last decade, thereby instilling confidence among home buyers and investors across the country. It is also noteworthy that demand is consistently exceeding available supply, showing encouraging signs of rapid absorption of new inventory,” said Sudhir Pai, CEO, Magicbricks.
The report also revealed that middle-aged professionals (aged 24-35) demonstrated the highest HSI (154). Additionally, consumers with an annual income of Rs 10-20 lakh displayed the strongest home buying aspirations with HSI O 156. According to the statement, Magicbricks has a monthly website traffic of over crores and an active base of over 15 lakh property listings.It has become a full stack service provider for all real estate needs with services including Home Loans, Interiors, Movers & Packers and expert advice.
On Thursday, Magicbricks released the 'Housing Sentiment Index', a report based on a survey of over 4,500 customers across 11 cities.
"Despite inflationary pressures, the Housing Sentiment Index (HSI) across India remains strong with strong buyer confidence," it said in a statement.
The survey revealed a positive market outlook for the Indian residential real estate sector with an overall HSI of 149.
Magicbricks said the HSI is derived from an online survey, which included responses from 4,500 high-intent home buyers across different income groups and budget preferences across India's top 11 cities.HSI scores range from 0 to 200, with 100 representing neutrality. Signaling expectations of market stability in the short to medium term. A score of 20 indicates bullish sentiment while a score of 0 indicates bearish sentiment.
"Currently, the All India HSI stands at 149, reflecting the optimistic outlook of potential home buyers," the report said.
Ahmedabad emerged as the leader with the highest HSI of 163, followed by Kolkata (160), Gurugram (157), and Hyderabad (156), driven by advanced infrastructure and upcoming new real estate projects.“The current scenario of India's real estate sector reflects the most promising conditions seen in the last decade, thereby instilling confidence among home buyers and investors across the country. It is also noteworthy that demand is consistently exceeding available supply, showing encouraging signs of rapid absorption of new inventory,” said Sudhir Pai, CEO, Magicbricks.
The report also revealed that middle-aged professionals (aged 24-35) demonstrated the highest HSI (154). Additionally, consumers with an annual income of Rs 10-20 lakh displayed the strongest home buying aspirations with HSI O 156. According to the statement, Magicbricks has a monthly website traffic of over crores and an active base of over 15 lakh property listings.It has become a full stack service provider for all real estate needs with services including Home Loans, Interiors, Movers & Packers and expert advice.
