Homebuyer confidence increasedImage credit source: Unsplash
Real Estate Sentiment Index Report: Do you also want to buy your own home? But you can’t buy because of the high prices? Do you know why the demand for houses in the country is increasing so much? Many shocking information has come to light in a survey in this regard.
The online real estate portal Magicbricks conducted a survey among more than 2,100 customers interested in buying a house. On this basis, it has developed the ‘Real Estate Sentiment Index’, which reveals the reasons for the increase in real estate demand.
Due to this, the demand for properties is increasing.
According to the Housing Sentiment Index, the inclination to purchase properties has increased among people due to the expectation of capital appreciation (better returns on investment) in property prices. Due to this, the demand for properties is continuously increasing. At the same time, the rental yield in residential areas has improved than before, so instead of buying a house to live in, people now invest money in properties just to earn rental or investment income and therefore, its demand is increasing.
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The Magicbricks real estate sentiment index was 149 points in April, but in September, that is, in six months, it rose to 155 points.
The price of luxury properties has increased a lot
This survey has confirmed that homebuyer confidence has increased. At the same time, investment in the luxury segment has increased. Property prices in this segment now range between Rs 3.5 million and Rs 5 million. The score for this category in the real estate sentiment index has now reached 162 points, meaning that buyer sentiment in the luxury segment is stronger than the overall index.
In terms of cities, the strongest investor sentiment is in cities like Noida and Greater Noida. While Gurugram, Ahmedabad and Hyderabad follow. In this, cities like Delhi, Bengaluru and Mumbai are lagging behind these new emerging cities.
