PR Newswire | 06 Jun, 2013
DELHI: MagicBricks.com is committed to empowering users with information and advice on all property related matters. Several initiatives and platforms have been created by MagicBricks (MB) to serve this need. As a further step towards this objective, MagicBricks.com is collaborating with the world renowned Indian Institute of Management, Bangalore (IIMB) to create a reliable and usable index that will gauge the mood and sentiment of buyers - whether they are end users or investors.
This joint initiative between IIMB and MagicBricks.com will create a reliable and trustworthy determinant termed as the MB-IIMB Housing Sentiment Index. Sentiment plays a significant role in driving markets; and this Housing Sentiment Index (HSI) will gauge and quantify the buyers' mood or consumer sentiment and link this back to actual real estate performance.
Speaking about this joint initiative, Sudhir Pai, Business Head, MagicBricks.com stated, "The MB-IIMB HSI will determine how buyers and investors view the market, which in turn, influences their purchase decisions and aggregate demand. The index is likely to become an early indicator of how markets would perform in the future. Read alongwith PropIndex, which reports extensively on quarterly market performance, this should help all stakeholders to better understand past as well as potential future real estate market performance."
Prof. Venkatesh Panchapagesan, Head of IIMB-Century Real Estate Research Initiative, IIM Bangalore explained, "We are very pleased to collaborate with the market leader in the online real-estate space to create this innovative index. While there is no direct measure to assess market sentiment, the MB-IIMB HSI will use various proxies to compile composite sentiments from active homebuyers in markets across the country. As part of this effort, IIMB will conduct nationwide surveys to create two indices - a Sentiment index and a Sentiment Strength index - to gauge buyers' view of future home prices. These surveys will be conducted with the help of MagicBricks.com."
With access to the largest aggregated user base in real estate in India, MagicBricks.com is in the unique position to provide a reliable data set, which is representative of the actual universe of Indian real estate buyers.
MagicBricks.com has a considerable arsenal of sophisticated tools to measure and track real estate market performance, through pioneering platforms, like the PropIndex, Property Pulse, and GuruTalk. The MB-IIMB HSI will uncover another layer of clarity and further enhance transparency in the real-estate space.
About MagicBricks.com:
MagicBricks.com [http://magicbricks.com ] provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space in a clear and transparent process. With in-depth analysis and revolutionary next-gen services customized specifically to address the needs of property seekers and the real estate industry, MagicBricks.com [http://magicbricks.com ] is the leader in online real estate in India.
MagicBricks.com [http://magicbricks.com ] was launched by Times Business Solutions Limited, part of The Times of India Group in August 2006, and has grown to become India's largest property portal. With over 8,000,000 listings from across the country, MagicBricks is the biggest online property marketplace in the country.
This achievement is not by chance, but by design - based on rigorous research, unique product developments and innovations that users have supported and embraced, including pioneering Geo Grouped Inventories, Intelligent Auto Suggest, Nearby Localities, Real Estate Dialogues, PropIndex and GuruTalk. With many new products and services under development, MagicBricks will continue to provide ever-increasing value to its clients and users, and will enhance its leadership in the online property space.
Primary Media Contact: Aseem Seth, TBSL, aseem.seth@timesgroup.com, 91-9910273367
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