Booming Housing Investment Market of Kerala

by Natasha Manual Digital Marketing Specialist

Kerala, a state in the southern tip of India, is all set to ride the country’s tech boom. With the state focusing on good governance and administration giving a boost to the technology sector, a significant increase in the employment opportunities, both direct and indirect, has come about in the state. This, in turn, has led to an increase in demand and investment in the housing sector. Kerala was adjudged as the best-governed state in India for the third consecutive time in 2018, on the basis of the Public Affairs Index.

Other Reasons for Housing Investment Boom in Kerala

If you are planning to invest in Kerala, it is a good idea to look at the luxury apartments for sale in Kochi. This is the right time because non-resident Keralites employed in the Gulf countries are fuelling growth in most urbanised cities in Kerala as remittances account for more than 33 percent of Kerala’s economy. This has helped Kerala become a name to reckon with the wealthiest states in the country.

Moreover, Kerala is considered to be one of the top consumer states in the country. This is because the spending on food as well as non-food items by people in Kerala exceeds India’s average. Further, tourism, which accounts for nearly 10 percent of Kerala’s GDP and 24 percent of employment, has been vital to the state’s economic growth.

The Future

Kerala has already invested heavily and created large-scale IT commercial hubs such as Technopark in Thiruvananthapuram, Infopark in Kochi, and Cyber Park in Kozhikode. The government has also invested in infrastructural such as national highways, ports, airports, and Metro Rail. The state is also focusing on boosting its startup economy booming.

Luxury Retail Market

People of Kerala have a liking for luxury homes. More than 55 percent of the population own large residential properties. Only 5 percent of the population lives in dilapidated homes. The IT parks are prime drivers of the real estate sector in the respective cities.

The waterfront locations in Kerala are also witnessing a boom and properties are being sold at premium prices. Despite the natural calamity that ravaged the state last year, waterfront properties continue to command premium prices.

Luxury flats near Maradu, being developed by Hebron Properties Kochi, have been gaining a great deal of attention because of Keralites’ penchant for owning luxurious waterfront apartments. The Silver Shores luxury condominium complex consists of 72 units spread built in 13 floors. The apartment project also offers 2 and 3 BHK units that offer panoramic of the Vembanad Lake.