The report identifies Pune, Thane/Navi Mumbai, and Gurugram as preferred investment locations for those aged 18-24, driven by established employment hubs and aspirational value. Gurugram, for instance, saw a 17.4% year-on-year increase in demand, with prices rising 32.5% to reach Rs 14,650 per square foot. The under-construction supply in this area also expanded by 35.85% in Q3 2024.

For the 25-34 age group, cities such as Hyderabad (HSI 180), Ahmedabad (HSI 171), and Noida/Greater Noida (HSI 169) are gaining traction due to infrastructure growth and high demand. Hyderabad experienced a 3.2% quarter-on-quarter growth, with average rates reaching Rs 8,188 per square foot in Q3 2024. Ahmedabad offers a more budget-friendly option, with average prices around Rs 5,927 per square foot, particularly in popular micro-markets like SG Highway and Bopal, where prices range from Rs 5,500 to Rs 7,900 per square foot.

Noida/Greater Noida has emerged as a prime investment hub, with residential rates nearly doubling to Rs 11,625 per square foot over the past year. The under-construction segment has seen significant growth, with prices soaring 69% year-on-year, rising from Rs 7,547 per square foot in Q3 2023 to Rs 12,758 per square foot in Q3 2024.

This shift in young homebuyers’ preferences underscores the evolving landscape of the real estate market in India, with a clear focus on affordability, infrastructure, and aspirational living.

Also Read: Metro Line 3: A Game-Changer for Mumbai’s Real Estate Landscape

The post Young Homebuyers (18-34 Years) Betting Big on Real Estate: Key Insights on Cities and Budgets appeared first on Square Feat India.

Cities like Noida and Greater Noida recorded the highest HSI scores, both at 163, signaling strong investor confidence in these areas. Gurugram, Ahmedabad, and Hyderabad followed closely with scores of 160. Meanwhile, major metros such as Delhi (HSI 151), Bengaluru, and Mumbai (HSI 148) showed relatively lower sentiment levels, likely due to rising property prices which may be dampening investor enthusiasm in these markets.

Abhishek Bhadra, Head of Research at Magicbricks, commented, “The robust Housing Sentiment Index underscores growing confidence in the real estate sector, fueled by rising incomes and financial stability. The luxury segment is particularly gaining traction, with investors focusing on high returns, rental yields, and long-term property ownership security.”

The survey also revealed a significant boost in confidence within the luxury housing market, where properties priced between INR 3.5 crore and INR 5 crore achieved an HSI score of 162.

In addition, the report showed an improvement in sentiment towards under-construction properties, with the HSI score rising from 157 in April 2024 to 161 in September 2024. This indicates a growing trust in the potential of upcoming developments and projects.

Overall, the findings suggest that the Indian real estate market is benefiting from continued optimism, supported by urbanization, rising incomes, and favorable government policies designed to encourage residential demand.

Also Read: Residential Rentals Surge in Mumbai’s Western Suburbs Amid High Demand

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