The real estate market in Kerala has been showing many positive trends of late. Kerala has always been at the forefront of infrastructure development in the country. With the background of a fast-growing economy and rapid urbanization, the housing and commercial real estate landscape of Kochi has seen an upward trend over the last few years. This is expected to continue in the current year as well. This has led to the flats in Ernakulam becoming one of the most preferred investment options.
These facts can be read along with the rise in demand for luxury flats in Kochi as well as other parts of Kerala like Thrissur, Thiruvananthapuram, etc. 2020 has witnessed many innovative projects that explored the requirements of modern living and contemporary architecture. These innovations were a breath of fresh air into the real estate market in Kerala. Here are the top 5 latest real estate trends in Kerala that homebuyers should keep in mind before investing.
Technology has Transformed the Market
The construction business has developed in a humongous way owing to the technological prowess that has improved over the years. For instance Digitalization is the brilliant technology behind the transformation of the real estate market. People from various places are following Digital tools for their convenience. Therefore, Technologies can make rapid changes in Real Estate Market.
Sustainable and Green Homes are Gaining Importance
Green housing projects that leave a minimal footprint on the environment is gaining huge popularity, especially among the younger generation. We live during a time where climate change and environmental hazards are frequent topics of discussion. Governments and individuals are doing their maximum to minimize the damage to the environment, and to promote a sustainable lifestyle. Thus more and more builders are focusing on developing eco-friendly flats and villas, by paying attention to each step of the process, from procuring raw materials to creating sustainable designs.
Interior Designs are Becoming Functional
In 2020, interior designs are not just about being elegant. They are becoming more functional to suit the needs of the homeowner. As mentioned above, environment-friendly designs are in vogue, and thus interior designs are becoming more sleek and minimal than it used to be. The clutter-free look is now preferred by more people for their homes. Builders and interior designers are following the suit by implementing contemporary design language to attract the millennial homebuyers.
Security is Gaining Importance
While most of the latest apartment projects in Kerala are already offering adequate security services to homebuyers, this is becoming more important in 2020. Homes are becoming smarter and more sophisticated regarding the matter of safety. For instance, many contemporary flats in Maradu, Edappally, Thrissur, etc. have introduced the latest technologies like smart locks and security automation systems. These features are in addition to the traditional methods of employing security personnel and doormen.
Gated Communities are Preferred More
As discussed above, homebuyers are increasingly becoming concerned about the security of their homes, and the amount of security offered by gated communities is unparalleled. Moreover, most gated communities are synonymous with luxury, and thus luxury homebuyers prefer gated communities more. These luxury homes offer premium amenities along with enhanced safety by smart security systems. Gated communities also offer more space to take an occasional stroll and to relax, unlike apartments that are raised in smaller areas.