Kochi Housing Market Continues to be on a Roll
Kochi has also witnessed the highest appreciation in home prices among the country’s top-10 cities over the last year as per the quarterly data released by the RBI sometime earlier. Prices went up by 2.79% nationally, while Kochi housing prices went up by a whopping 7.15%, indicating skyrocketing demand for apartments for sale in Kochi and other properties in & around the city.
NRI Investors Also Prefer
Kochi for Property Investments
Along with demand driven by Government professionals, corporates, and businessmen, Kochi is also witnessing higher demand amongst NRI investors, especially those working the Gulf. They are not just looking for mid-range or premium apartments for sale in the city, but also luxurious apartments, villa projects, second-home projects, independent homes, and the like. Indians working in the Gulf region are already looking at snapping up prime real estate in their hometowns and cities and Kochi is no exception.
Kochi is already Kerala’s foremost economic hotspot, known for its tourism, trade, manufacturing, and plethora of real estate investment choices. They have grown considerably ever since the outbreak of the pandemic. There are historic precincts that are neatly fused with contemporary buildings and business complexes. Kochi is a melting point and intersection of two unique worlds, where premier villas rub shoulders with charming museums. Several NRIs working in the Gulf trace their roots and lineage to areas in and around Kochi. They crave property ownership in the city for occasional visits to the country and also retirement or future settlement.
Kochi has thus become an ideal investment destination for those working in Abu Dhabi, Dubai, and other regions in the Gulf. Economic uncertainties post the pandemic and a higher number of luxury and premium housing options in Kochi are key factors driving these investments. Many NRIs also want to keep an option to return to their hometown of Kochi in the future. Handsome property appreciation has been another key growth driver along with Kochi’s natural beauty, including the lovely coastline and famous backwaters which can be accessed easily.
Some Other Factors Accounting
for Kochi’s Real Estate Growth
As mentioned earlier, there are more options today for investors and end-users alike. There are mid-range projects offering good amenities in good locations of the city while luxurious and premium offerings are also available across price points with diverse features. Hence, pan-Indian buyers have more alternatives, especially those looking for beautiful second homes. Villa projects and plotted developments have also gained traction due to this aspect.
Kochi’s steady and sustained economic growth and new opportunities are another reason for the increasing commercial and business activity here. This has also led to positive growth in the residential real estate growth. At the same time, investing in property for tapping tourism revenues is another incentive for many buyers. It can be said that Kochi’s realty market continues to be on a roll!
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