Real Estate Trends in Major Cities in Kerala 2020
Kerala has become one of the major real estate hotspots in India attracting a large number of investors in the commercial and residential segment every year. The rapidly growing IT and business sector in the state has triggered a sudden splurge in real estate investments. Apart from this, good public infrastructure, excellent transport facilities, and high commercial growth has brought about a real estate boom in Kerala.
With plenty of job opportunities across various industries like IT, healthcare, education, tourism, and hospitality, there is an ever-increasing need for housing facilities in Kerala. Reputed builders are making huge investments to build quality housing projects across major cities to address this growing demand. A majority of the property investments in Kerala comes from NRIs buyers. The builders are also trying their best to develop homes with global standards to match the expectations of NRI homebuyers.
Today’s smart and educated youngsters are constantly looking for quality housing at affordable prices to ensure high value for money. Homes located near to the major IT parks, airport and educational institutions are preferred by working professionals. People prefer to settle down in Kerala as life here offers a perfect blend of nature and luxury. With add-ons like international shopping malls, movie theatres, amusement parks and amazing tourist spots, living in Kerala ensures a truly delightful experience.
Top Real Estate Investment Destinations in Kerala
Buying a property in Kerala is considered to be one of the most profitable financial investments nowadays provided that you are choosing the right location. Cities like Kochi, Trivandrum, Calicut, Thrissur and Kottayam are witnessing significant growth in the real estate market. You can find a range of residential projects comprising apartments and villas across these cities. These are available at differing rates depending on the type of property and location. Some of the reliable builders in Kerala like Confident Group are catering to customers seeking budget housing options. Now let us see the real estate trends in these major cities in Kerala.
Being the economic capital of Kerala, Kochi has a huge scope for real estate investments. With the establishment of leading IT parks such as Infopark, Smart City and CSEZ (Cochin Special Economic Zone), Kochi is attracting a large number of people from other states also. Owing to the presence of large retail outlets and shopping centres like Lulu Mall and Oberon Mall, the city has become a top shopping destination for tourists and natives alike.
The city has good road, rail and air connectivity which is another reason that entices buyers. Over the last 6 months, we have been witnessing an upward trend in land prices across top localities like Kakkanad, Infopark, Edappally, Vennala and Tripunithura. Kakkanad shows a 21.1% price hike and Edappally shows a whopping price hike of 225.6%.
This gives a favorable sign for real estate investors as they can earn great returns in future by investing in Kochi. Properties in Aluva are also gaining popularity among homebuyers owing to its proximity to Cochin International Airport. Confident Group has a range of upcoming and ready-to-move-in apartments in Kochi catering to the budget and luxury segments.
The average property price per in these localities is as shown below:
-Kakkanad - Rs. 5,544.63 / sqft
-Edappally - Rs. 6,433.62 / sqft
-Tripunithura - Rs. 4,828.61 / sqft
-Vennala - Rs. 5,764.98 / sqft
-Aluva - Rs. 6,89.91 / sqft
Trivandrum, the capital city of Kerala is a much sought-after destination for real estate investment now. Trivandrum also called Thiruvananthapuram is rated as one of the most liveable cities in India in terms of aspects like quality of living, civic amenities and governance. The city is home to Technopark, the largest information technology (IT) park in India in terms of developed area.
Properties located in Kazhakootam and Karyavattom have high demand among homebuyers as it is close to major landmarks such as Technopark, Lulu Mall, Greenfield International Stadium, Karyavattom University campus, upcoming IT park Technocity, etc. Research shows that there has been a 20.3% price hike in the Kazhakootam area over the last few months. Akkulam, Kumarapuram, Poojappura, etc are some other top residential localities with high land price appreciation.
Major upcoming projects like Vizhinjam International Seaport, Downtown Trivandrum, World Trade Center, etc are expected to generate a huge number of job opportunities in the city. Considering all these developments, Trivandrum is a perfect choice for real estate investors.
Average price per square feet:
-Kazhakkootam – Rs. 4,530.6
-Karyavattom - Rs. 8,840.86
-Akkulam – Rs. 6,962.57
Calicut or Kozhikode, the beautiful coastal city of Malabar has grown to become a top favourite real estate investment destination in Kerala. The development of the IT sector and the flowing investments from NRIs have helped the city grow from a historic trading city to an urban hub for business and real estate. Numerous builders have launched premium to budget housing projects in some of the most coveted residential localities. The city is home to Cyberpark, one among the major IT parks in Kerala. The city offers an excellent quality of lifestyle which is a perfect blend of the modern and the traditional.
With facilities like shopping malls, street shops, food outlets, healthcare institutions, schools and colleges, life in this city is a hassle-free experience. Owing to the presence of prominent higher education institutions like Indian Institute of Management (IIM) Calicut and National Institute of Technology (NIT) Calicut, the city attracts plenty of students from other states also. Calicut is the starting destination for tourists heading to Wayanad, one of the most prominent tourist spots in Kerala. Buying flats or apartments in top residential localities like Koottooli, Mavoor Road, Farook, Thondayad, Kovoor, etc is considered to be an excellent investment this year. You can find a range of affordable and luxury apartments for sale in Calicut by Confident Group.
Average price per square feet:
-Koottooli - 4,838.71 / sqft
-Thondayad Byepass - 5,555.56 / sqft
-Kovoor MLA Road - 5,235.6 / sqft
Thrissur, the cultural capital of Kerala is one of the top preferred locations for real estate investors now. The flourishing business sector in Thrissur has enticed many new investors to make new investments in both commercial and residential properties. Investors can get great returns by renting apartments and commercial outlets in the city.
The land is filled with temples and historic sites, making it one of the most sought-after destinations for tourists. People prefer to settle in Thrissur owing to its laid-back vibe and culturally enriching ambience. The city is renowned for Thrissur Pooram, a popular temple festival which attracts thousands of people from all over the world. If you like to stay away from the city, you can also find villas and housing plots in the city outskirts at affordable prices.
With excellent civic amenities and many world-class shopping centers like Sobha City Mall, life is Thrissur is a fine balance of luxury and comfort. Thrissur is just an hour’s drive from Cochin International airport and also has a railway station located in the heart of the city. You can find many luxury and budget apartments and villas for sale in Thrissur across top housing localities such as West Fort, Aranattukara, Adat, Chelakottukara, Christopher Nagar, etc. Over the last few months, properties in West Fort showed a 30% hike in price. With the price trend moving up, 2020 seems to be the right time to invest in Thrissur.
Kottayam is another top investment destination in Kerala which has gained much popularity among homebuyers. A majority of the buyers who invest in Kottayam are NRIs. It is a beautiful city bordered by the Western Ghats on one side and the Vembanad Lake and lush green paddy fields on the other side. Kumarakom, the lakeside resort village famous for houseboat tours in Kottayam district attracts thousands of tourists every year.
Kottayam is the literary hub of Kerala also known as the land of letters. Many of the Malayalam newspapers such as Malayala Manorama, Mangalam, Deepika, etc are headquartered in Kottayam, making it a preferred city for conducting literary events. The city is home to many reputed educational institutions like Kottayam Medical College, CMS College, MG University, etc.
Being a major trading center of natural rubber in India, Kottayam also houses the Rubber Board established by the government for the nationwide development of the rubber industry. Apart from this, you can also find many small and medium scale enterprises involved in rubber processing and manufacturing. Another important enterprise which you can find in Kottayam is the Plantation Corporation of Kerala which is set up for trading crops and spices cultivated in the region.
Owing to the growing business sectors and job opportunities, buying a property in Kottayam is considered as a safe and profitable investment. Properties near Collectorate have witnessed a 6.8% price hike over the last few months. You can find a range of affordable and luxury apartments for sale in Kottayam in top localities like Collectorate and Kanjikuzhi.
The rising land value and increasing demand for housing in Kerala show that it is the right time to make a real estate investment in the state. It’s never too late to start investing. Make a safe investment with Confident Group, one of the most reliable builders in Kerala.