Boom in Hill Station Homes: Magicbricks Reports 8% Growth

Magicbricks has reported an 8% annual increase in searches for residential properties in hill stations during the July-September quarter. The demand for second homes is rising with notable growth in Ooty, Rishikesh, and Dharamshala. Although listings dipped slightly, interest remains high, especially in the Rs 30 lakh-Rs 1 crore range.

Magicbricks, a prominent real estate portal, has reported an 8% year-on-year growth in searches for residential properties in hill stations from July to September. This surge highlights a growing demand for second homes in picturesque locations.

According to the report, Ooty, Rishikesh, and Dharamshala experienced the most significant increases in user interest, while Dehradun, Manali, and Mussoorie saw notable upticks in average property prices. Dehradun led with a 30.9% rise in quoted prices per square foot.

Despite a slight 1.2% decrease in property listings, consumer interest remains robust, particularly in the Rs 30 lakh to Rs 1 crore price range, which accounts for nearly 70% of all searches. Magicbricks continues to support users with over 15 lakh property listings and related services.

(With inputs from agencies.)