Online searches on Magicbricks portal for rental housing up 16% in Jan-Mar

Real estate portal Magicbricks on Tuesday said online searches on its platform for renting housing properties increased 15.8 per cent during the January-March period compared with the previous quarter.

“In Q1 2022, the total rental housing demand (searches) in the cities tracked by Magicbricks jumped by about 15.8 per cent QoQ (quarter on quarter) and 6.7 per cent YoY (year-on-year), while the cumulative supply (listings) witnessed a growth of 30.7 per cent QoQ and 101.5 per cent YoY,” Magicbricks said in a report.

The company tracks Ahmedabad, Bengaluru, Chennai, Delhi, Greater Noida, Hyderabad, Kolkata, Mumbai, Navi Mumbai, Noida, Pune and Thane.