Homebuyer sentiment in India robust: Magicbricks

The homebuyer sentiment continues to grow strong owing to expectations of capital appreciation and rising rental yields of residential properties, shows Magicbricks' latest Housing Sentiment Index (HSI).

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

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

Investor sentiment was also notably robust in Noida and Greater Noida-with 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 with HSI score 151, Bengaluru, and Mumbai with HSI score 148 exhibited relatively lower sentiment, likely attributable to rising property prices.

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