Over the last two years the Magicbricks PropIndex has reported on the major real-estate markets of Delhi, Gurgaon, Noida, Ghaziabad, Mumbai, Pune, Ahmedabad, Kolkata, Chennai, Hyderabad and Bangalore.
With substantial growth in volumes of MagicBricks’ users from smaller cities- this 10th edition of PropIndex introduces Vadodara as the 1st in a series of new and emerging markets with strong drivers, which shall be introduced over time.
The key take-aways from Vadodara were that the real estate market was largely stable and is witnessing a situation of over-supply, particularly in the price bracket of Rs.25-50 lakh. More details are available in the full report available on newsstands and online.
The 10th PropIndex includes a complimentary copy of the 1st edition of the “IIMB-MB Housing Sentiment Index” (HSI), which gauges the mood & sentiment of buyers – whether they are end-users or investors, and provides an early indicator of how markets would perform in the future. It clearly indicates that while the consumer is willing to wait in anticipation of better prices, he is also quite willing to search for the best deals over the next six months.
Speaking at the launch of the latest PropIndex, Sudhir Pai, Business Head, Magicbricks said, “The industry would benefit by using statistics to understand consumer sentiment, and be able to navigate basis the direction that markets are likely to take. The volume of stock in every market, if positioned correctly, can be used to bring back the end user. Unlike 2010, when developers had little to woo the anxious consumer with, this time round, they have plenty of stock and a negotiating power to turn the markets around. The question is, can they take leadership and make Real Estate the sector to kick start a sagging economy?”
More details are available in the 10th edition of PropIndex and complimentary 1st edition of the “IIMB-MB Housing Sentiment Index” (HSI) – Now on newsstands and online. You may also email [email protected] for the complete report.
Edited by Gordana Davila