Homebuying may soar as gross rental yield climbs to 3.62%

22 Nov 2024 CW Team

Prasun Kumar, Chief Marketing Officer, Magicbricks, commented on the evolving investment landscape “For decades, homebuyers primarily sought properties for personal use or as a primary residence. However, today’s dynamic real estate market is shifting that trend, with residential investments offering better returns. Encouraged by rising rental yields, we expect many buyers to explore multiple property investments, even leveraging loans to do so."

Interestingly, the highest rental yields are not in traditional investment hubs like Bengaluru or Delhi but in Ahmedabad, Hyderabad, Kolkata, and Pune. These cities are becoming hotspots for investors looking to maximize rental income.

Ahmedabad tops the list with a rental yield of 3.9%. The city’s average monthly rent has increased by 16.9% YoY to INR 19.35 psf, while property prices average Rs 5,927 psf. The combination of affordable property rates and robust rental demand makes Ahmedabad a prime destination for investors.

Hyderabad saw rental yields rise from 3.5% in Q2 2024 to 3.7% in Q3 2024. Average monthly rents surged by 28.2% YoY to Rs 25.17 psf, while residential prices experienced a modest 6.2% YoY increase to Rs 8,188 psf. Similarly, Kolkata offers balanced market dynamics with a rental yield of 3.7%. Average rents grew by 12.9% YoY to Rs 22.14 psf, attracting investors seeking stable returns in a city known for its affordable living and increasing job opportunities. Both Hyderabad and Kolkata stand out due to their influx of tenants, driven by burgeoning employment opportunities and cost-effective lifestyles.

For investors, the current market conditions present an opportune moment to capitalize on rental income and property appreciation. With demand remaining robust across major urban centers, these high-performing cities offer lucrative prospects for long-term gains.

The Indian rental market is witnessing a surge as the average gross rental yield across 13 prime cities reaches an impressive 3.62%, according to Magicbricks' latest report. The report highlights significant growth in cities like Chennai and Delhi, which have outperformed the national average. Chennai reported a remarkable 21.3% QoQ increase in rental yields, while Delhi saw an 8.8% rise.Prasun Kumar, Chief Marketing Officer, Magicbricks, commented on the evolving investment landscape “For decades, homebuyers primarily sought properties for personal use or as a primary residence. However, today’s dynamic real estate market is shifting that trend, with residential investments offering better returns. Encouraged by rising rental yields, we expect many buyers to explore multiple property investments, even leveraging loans to do so.Interestingly, the highest rental yields are not in traditional investment hubs like Bengaluru or Delhi but in Ahmedabad, Hyderabad, Kolkata, and Pune. These cities are becoming hotspots for investors looking to maximize rental income.Ahmedabad tops the list with a rental yield of 3.9%. The city’s average monthly rent has increased by 16.9% YoY to INR 19.35 psf, while property prices average Rs 5,927 psf. The combination of affordable property rates and robust rental demand makes Ahmedabad a prime destination for investors.Hyderabad saw rental yields rise from 3.5% in Q2 2024 to 3.7% in Q3 2024. Average monthly rents surged by 28.2% YoY to Rs 25.17 psf, while residential prices experienced a modest 6.2% YoY increase to Rs 8,188 psf. Similarly, Kolkata offers balanced market dynamics with a rental yield of 3.7%. Average rents grew by 12.9% YoY to Rs 22.14 psf, attracting investors seeking stable returns in a city known for its affordable living and increasing job opportunities. Both Hyderabad and Kolkata stand out due to their influx of tenants, driven by burgeoning employment opportunities and cost-effective lifestyles.For investors, the current market conditions present an opportune moment to capitalize on rental income and property appreciation. With demand remaining robust across major urban centers, these high-performing cities offer lucrative prospects for long-term gains.

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