Real estate has been one of the sectors impacted heavily by the pandemic, the consequent lockdowns and the economic downturn. However, new data published by Kerala Real Estate Regulatory Authority (K-RERA) shows that the sector is slowly getting an uptrend. Since April 2022, 95 projects were registered with K-RERA in the second and third quarters of 2022, compared to 50 projects year-on year. Over 80% of purchaser interest is in 5 BHK apartments; this is a sharp increase from 56% in February 2022 and this category appears to be the most active right now.

Other categories have seen a decrease in the number of unsold homes. Currently, 4BHK homes have a sales percentage of 51% and 3 BHK units stand at 52. The worst performers are villas and 1 BHK apartment, with sales of 20% and 36% respectively. There has been a rise in the number of new projects and drop in unsold units as per Kerala Real Estate Regulatory Authority (K-RERA). In terms of the bigger picture, Sethunath M, CEO of CREDAI Kochi, said that the real estate sector in India is growing at an estimated rate of about 22% per annum and that it continues to be the second-largest employment generating sector, contributing to 6-7% of the GDP.

Meanwhile, Kochi, Kozhikode and Kottayam continue to be the hotspots, where people are choosing to buy homes in Kerala. Over the recent years, digital technology has revolutionised the way customers approach the decision of buying a home. The real estate sector has embraced digital techniques in helping clients make informed decisions when it comes to buying homes.
Virtual home touring, 3D tours and drone videos are some of the technologies that help home buyers visualise the plot selection and even, seeing how their completed home will look, with interior finishes and more. Some real estate builders have begun using 3D tours and drone videos to help people see the space in 360 degree and to observe the dimensions of the interiors clearly in high resolution.

“Among home buyers in Kerala, the inclination now is towards homes with a balcony and a garden where they can spend some time peacefully, indoor and outdoor gyms for the health-conscious, a spacious and well-fitted kitchen, and an eco-friendly and pleasant atmosphere,” says Dr Najeeb Zackeria, MD of Abad Builders. “There is also a premium being placed on home safety and security, and the use of the latest in technology for this purpose.” Besides, there is a growing trend towards people preferring to live in suburban areas rather than in the middle of the city’s bustle, which works excellently for home buyers in Kochi, with apartments and homes in Edapally, Nettoor and Maradu.

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.

In recent times, buyers of apartments in Kochi seem to have a heightened interest in ready to move in projects. However, under-construction flats are not any less in quality or cost as compared to the former. If you act with due diligence on the project in terms of developer, location, price and other related aspects, under construction projects can offer higher value appreciation than ready to move in projects. Some of the few advantages of buying a property in an under-construction project are listed below:-

• Higher appreciation: Since you are buying at a lower cost, the value appreciation is expected to be higher. As the construction progress, the price of your property also increases. For high returns of the investment, buyers should check the location, upcoming infrastructure, etc. The value of the property increases from the time of booking until the buyer is delivered with the completed project. Therefore, the value increases over a period of time. Logically one may think that a ready possession flat for sale in Ernakulam will also increase in value, but the quantum increase during the under-construction stage would be at a higher rate.

• Less cost: The cost of a property is one of the prime aspects of a buyer. An under-construction property will cost less than a ready to move in property. Moreover, buyers get the option to interfere in the cost management of the construction. The wait may be longer but it is surely worth the cost. With the RERA (Real Estate Regulatory Authority) in place, developers must deliver on time, and if they do not, they are liable to pay compensation to the buyers. You should deal with a reliable developer and choose a good project. One should not buy a property because the cost is less. Post RERA there is an added advantage of booking a unit in an under-construction project. The buyer is safe. The biggest advantage is that the price point is low while you invest and it grows in value over a period of time. Also, one can choose the unit of one’s choice in terms of unit number or location within the tower’s layout.

• Payment flexibility: While buying a completed property in any flats in Kochi the buyer has to pay the entire amount at one time. There are registry cost and other miscellaneous expenses as well. However, you are paying only ten to fifteen percent as the booking amount when you buy an under-construction project. You pay EMIs to a bank in case the property is financed or else you can pay as per the construction plan. There is flexibility in terms of payment and you do not need to arrange a huge sum to buy an under-construction project.

• New construction: Under construction projects offer you new construction. You are getting a property that is newly constructed and has a long life. Buyers need not worry about maintenance for a long time while moving into a new property. You are spending a great amount of money and there is no point in going for a property that is old. You get more amenities at an affordable cost.

The action in real estate industry is now slowly shifting to smaller cities thus taking off the pressure from metropolitan cities like Chennai, Bangalore and Kolkata. The scarcity of resources, unaffordable property prices, shortage in natural resources and high cost of living are forcing developers and investors to focus on Tier II cities like Kochi, Vadodara, Jamshedpur and Coimbatore.

The major factors driving real estate growth in Tier II Cities are:

• With India’s urban population increasing, demand for housing and retail properties is also increasing owing to high disposable incomes and more nuclear families. For e.g. Villas in Kochi has become an extremely popular housing option owing to the high luxury amenities and proximity to industrial hubs.
• Cities like Coimbatore, Kochi, Vadodara and Surat have made huge progress in the industrial sector. They have become the hub of e-commerce owing due to availability of cheap skilled labor and lower cost overheads.
• Affordable land and labor is available in these smaller cities. Lower land prices leads to affordable homes and residential units. For e.g. flats in Kochi and Coimbatore have been hot selling and are seen as a major investment option within the buying capacity of a nuclear family.
• Government policies and physical infrastructures like metro, airports and express highways are rapidly fueling the growth of smaller cities. With more people migrating to smaller cities for work, the demand for housing and office spaces is increasing.

The future of Indian real estate sector lies in Tier II cities, especially after the introduction of Mission Housing for All by the Central Government. This mission helps smaller cities to expand closer to metro cities thereby encouraging planned construction and development. However the key to such a progress is provision of state of art infrastructural amenities and better planned development to attract a prospective buyer.

Kerala has been known for long as an attractive tourist destination. But over the years Kerala has also emerged as a hotspot for property investment. This is primarily due to the continually improving state of the economy of Kerala, which has gone beyond only tourism. For both businessmen and for job seekers, Kerala has emerged as a very attractive destination to live in, work, and also plan for their future by investing in property. Let us look at two examples of property hotspots in Kerala.

Ernakulam is the commercial capital of Kerala. It is the mainland business district of the historical town of Kochi. Ernakulam is buzzing with entrepreneurial activity, and is the commercial and business capital of Kerala. Cochin Port and shipyard as well DP World have fast tracked the commercial activity in this city. Tourism still continues to be a big draw, and most tourist packages for Kerala start and end at Ernakulam, whether the tourist is arriving by train or plane. It is no wonder that the Lulu Shopping Mall, one of the biggest in Asia, is situated in Ernakulam. Ernakulam is part of the North South highway corridor, and therefore enjoys superb connectivity to other parts of the country, and now even has its own metro railway system. It is no wonder, then, that investors are rushing to buy Flats in Ernakulam or Villas in Ernakulam.

Another upcoming destination for potential property investors is Kottayam. It is the administrative capital of the state of Kerala. It is commonly called the city of three Ls – Letters, Latex and Lakes. It has been the center of Malayali literature for ages, and is also regarded as the hub of the Kerala rubber industry. The buzzing commercial activity in Kottayam makes it so attractive to property investors. Therefore, purchasing Apartments in Kottayam is a sound investment decision.

Over the last few years, Kochi has been on the spotlight for major real estate development. Numerous local builders and real estate firms that have pan-India influence have chosen to set up their projects in different parts of Kochi. This has also opened up great options for people who are looking to buy apartments in Kochi. There are many factors that drive the real estate market of Kochi forward. These include ambitious and visionary Smart Cities Mission, great infrastructure technology, a well developed Metro corridor, tourism and airport, and seaport are all likely to improve the quality of life for people in Kochi.

In the light of such developments, it has become an incredibly attractive idea for people to come and live in Kochi. Kochi has got numerous neighborhoods that are just perfect for both nuclear and joint families. Even if a person is looking to stay alone for work or other purposes, Kochi has a lot to offer. The neighborhoods in Kochi offer excellent access to modern day amenities and well-developed infrastructure that can make life really comfortable. The flats in Kochi are designed to provide people with a world-class living experience. Not only they feature some of the finest facilities and amenities but they also offer a range of other services like interior design support and rental support.

Apart from the location highlights, Kochi offers a wide spectrum of job and business opportunities for professionals and common people. Transportation facilities through road, rail, water, and air channels made Kochi easily accessible from anywhere and it resulted in the development of industries and infrastructure around the area. Nowadays, Kochi is one of the rapidly developing cities in Kerala and a favorite living destination among Keralites.

When you start thinking of buying your own house, one decision that seems very difficult is whether you should go for an individual house or purchase an apartment or flat in one of the projects in your city.

Having your individual house does offer some advantages. You can build at your own pace, according to the money you have. You could have the designs made uniquely, as per your taste and choice. Such a house does offer a lot of privacy. And finally, you can choose the option of having gardens and lawns in your house if there is enough space.

But there are so many more advantages of going for an apartment. In case you want your house in Kochi, then buying one of the apartments in Kochi will be so much more convenient. You don’t have to run after the contractor or negotiate rates with the labors, and you won’t have to spend time and energy negotiating the best rates for raw materials. Once the house is made and you start living, an apartment offers so many common facilities that you can use, like swimming pools or gyms or playing areas. You are assured of security and any visitors to your house will be screened by the guards at the gate. At any location, flats in Kottayam for example, the housing society usually has 24×7 power backup, the cost of which is included in the monthly maintenance you pay. Living together in a community with other flat owners gives you a chance to network with others, and provides your children company with whom they can play and study together.

Apartment living has several advantages, and if you can select the correct builder, you will be able to get a home which provides a great lifestyle to you at a price that is reasonable.

The first Indian port where the Europeans landed was Kochi. It was then a small town in South West India which was colonized by the Portuguese. Later on it was captured by the Dutch and then by the British, who gave it the name Cochin. Kochi is the new name of this city. But among the high rises and villas in Kochi, one can still spot some old buildings showing Portuguese heritage.

Over the last few years, Kochi has changed beyond recognition and is today one of the fastest growing cities of the country. The prime driver behind this transformation in the city is the information technology sector. Almost a hundred IT companies (mostly providing IT services) have already set up offices in Kochi, and much more are on the way. These companies not only provide direct employment, but their presence has a trickle-down effect (torrential effect, actually!) on the city’s economy. The other sectors have a good representation in Kochi as well. The infrastructure here includes a ship repair facility, a CNG terminal, and a bunkering terminal as well. Kochi port boasts of an international cruise ship terminal. There are lots of good schools and universities, along with modern hospitals and attractive shopping malls.

With an educated population, lots of employment opportunities and superb infrastructure, Kochi seems set to become the city of the future. The other bigger cities of India have already expanded to unimaginable levels are now literally bursting at the seams. Whether it is a company wishing to set up a new office or factory, or whether it is an individual looking for a job, Kochi is becoming the destination of choice for the future. Real estate is therefore booming here, and several reputable builders are coming up with new projects to build flats and apartments in Kochi.

Over the last few years, there has been a rising trend of people choosing to live in towns rather than anywhere else. People moving to cities like Kochi in search of jobs also need homes to live in, be it flats of villas. Many real estate industry insiders believe that township living is truly the future of the residential real estate market. So let’s take a closer look at the factors that are driving people to living in the towns.

•   One of the reasons why people often choose to invest in the apartments in Kochi is that it allows them to be a part of a global community. Much more than ever before, towns are becoming the hubs for urban community living. This means that people who live in such environments live a luxurious life with the best of comfort and security. The access to world class benefits certainly attracts a lot of people to stay in towns.
• The towns in different parts of Kerala provide with great scope for living in harmony with the nature. The best part of community living is the interaction with like minded people and this helps to improve the character of a person. Also, living in a city provides opportunities of good education, business and job opportunities etc.
• Apartments and Villas in Kochi are developed by some of the most trusted residential real estate companies like ABAD Builders. This means that one can expect to have all the world class features and amenities in Kerala while spending time with their friends and family members.

Kochi is developing at  a rapid pace, and along with it, its suburban towns are too. One such significant town that has seen tremendous change and growth because of Kochi’s expansion and rapid development is Aluva. With large migration to Kochi from across the state and even the country, in search for better jobs, pays, business environment and so on, the demand for Apartments in Kochi has also increased exponentially. With the city becoming more crowded, congested and expensive, all these new home buyers who would’ve earlier preferred a Villa in Ernakulam are spreading out to its satellite towns for affordable and comfortable living spaces.

With only a 30 minute drive to the city and all facilities at par , you hardly feel like you live away from the city centre. To accommodate the growth of Kochi, Aluva too is being developed in terms of civil amenities like better roads, walkways, one way access etc. The town also has many good schools, colleges and even hospitals in or around it, making it ideal for peaceful living  away from the hustles of the city.

Besides being close to Kochi, it is also very well connected. Aluva has its own railway station, metro station and even an airport very close by. With CIAL only a few kilometres away and the town being directly connected to the rest of the state through one of the most significant national highways of the state, Aluva couldn’t be any more easily accessible.

With all of the above, Aluva is the ideal nesting ground for those of us who wish to stay away from the rush of the city. All this being said, we haven’t even talked about the highlight of Aluva that makes it so attractive for Kochiites to settle down in. Yes, it is its lush greenery, beautiful river view, and the serene vibe. Our Springfield villas in Aluva spread across 2.6 acres of landscaped property captures this essence of Aluva. Our tranquil homes that blend with nature make them irresistible for anyone who is looking for a countryside life within the city. Waking up to the sound of birds chirping and the wind blowing instead of cars honking is one of the main attraction of Kochiites towards our Villa projects in Kochi. If you are one of them, come check out our beautiful villas in Aluva to buy your dream home.