Business News | Young Professionals, Senior Citizens Demonstrate Strong Intent to Purchase Real Estate: Magicbricks Survey
Get latest articles and stories on Business at LatestLY. Young professionals in India- aged 18-24- and senior citizens- aged above 75- are demonstrating strong intent to invest in real estate, a recent consumer sentiment survey of 1950 prospective homebuyers conducted by real estate platform Magicbricks showed.
New Delhi [India], April 14 (ANI): Young professionals in India- aged 18-24- and senior citizens- aged above 75- are demonstrating strong intent to invest in real estate, a recent consumer sentiment survey of 1950 prospective homebuyers conducted by real estate platform Magicbricks showed.
The findings show that young professionals are entering the housing market earlier than before, driven by rising disposable incomes and long-term investment goals.
This cohort recorded a Housing Sentiment Index (HSI) score of 164, with respondents indicating a willingness to invest 5-6 times their annual income in residential property.
Their early participation signals a generational shift in wealth creation and financial planning.
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On the other end of the spectrum, senior citizens also displayed bullish sentiment, with an HSI score of 167. This group is actively considering home purchases for retirement planning, lifestyle upgrades, and legacy creation.
Their informed decision-making is influenced by a deeper understanding of real estate cycles and market dynamics.
The survey further highlighted strong buyer confidence in the Rs 3.5 to Rs 5 crore price bracket, which recorded the highest sentiment index of 147.
These buyers, typically with annual household incomes of over Rs 1 crore, are drawn by luxury aspirations and resilience to price fluctuations.
Earlier this month, the Magicbricks PropIndex Q1 2025 report revealed continued price appreciation in these markets.
Mumbai witnessed a 4.6 per cent quarterly rise, reaching an average rate of Rs 30,256 per square foot. In Gurugram, prices rose 0.7 per cent, averaging Rs 15,607 psf.
Kolkata, despite a 5.2 per cent quarterly increase, remains one of the more affordable metro markets at Rs 8,106 psf.
One of the most noteworthy insights from the survey is the growing preference for under-construction properties, which registered an HSI score of 155. These properties are perceived to offer modern amenities, better construction quality, and smart home features. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)