Bengaluru, 29th October 2024 : Magicbricks, India’s leading real estate platform, highlights an increasing inclination towards residential real estate as a favored investment option. According to the platform’s latest survey of high-intent homebuyers, those with annual household incomes between INR 20-30 lakh are showing the strongest preference for purchasing homes, signaling rising aspirations within the middle-income segment. These buyers are mainly considering investments in the INR 75 lakh to 1 crore range.
Survey results indicate that a majority of homebuyers expect property prices to rise by 6-15% over the next 12 months, citing capital appreciation and rental yields as key motivators. Among respondents, 35% view return on investment (ROI) through property appreciation as their primary reason for buying, while 22% are motivated by rising rental yields. Notably, most homebuyers did not see inflation as a deterrent in their purchasing decisions.
The survey also reveals that buyers are willing to invest 4-5 times their annual income in residential properties. Households earning INR 20-30 lakh annually are focusing on homes priced between INR 75 lakh and 1 crore, while those in the INR 30-50 lakh income bracket are leaning towards properties in the INR 1-1.5 crore range. For households with an annual income exceeding INR 1 crore, the preferred budget is typically between INR 3.5-5 crore.
The findings underscore a positive sentiment in the housing market, driven by the dual expectations of capital growth and increased rental income.