The prices in real estate in Cochin, in the Kerala region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.foot in Cochin has had a strong decrease during the last 6 months. In November, the average price per sq.foot was ₹ 6.96 lakhs. In the following month the price per sq.foot increased considerably to ₹ 10.05 lakhs. The price for the following two months in (January, February) had a considerable decrease of 59 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 7 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.foot of ₹ 6.76 lakhs to ₹ 47,151 during March, and April.
Based upon to the price in Cochin (cities), this has gone downing the last 6 months. The average price during our first sample month during November, is ₹ 1.57 crores. During December the price went through a considerable rise reaching ₹ 3.15 crores. During the following two months (January, February) the average price had a considerable reduction of 50 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 1.77 crores to ₹ 66.67 lakhs, which means a 38 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the most costly ones. At a price of ₹ 76.07 lakhs they are 64 % more expensive than the average price for Cochin. Following this ranking we find those properties with 4 at an average price of ₹ 1.62 crores. The properties with the highest average price have 4 BHK, Their price is 113 % more costly than the average. After that we have properties with 1 BHK priced at ₹ 1.24 crores.
With regard to the average price per sq.foot , those properties with 4 BHK are the cheapest ones at a cost of ₹ 6,633 / sq.foot, with an average ₹ 67,961 / sq.foot price in Cochin. The properties with the lowest average prices have 1 BHK. They are 88 % cheaper than the average followed by properties with 4 BHK with a price at ₹ 6,633 / sq.foot.
The graph displaying the average prices displays the property type "Flat" as the most costly one. At an cost of ₹ 76.07 lakhs it is 18 % more expensive than the average price in Cochin. "House" is seen as the second dearest property type. The dearest property type is "Commercial" followed by "Land". At a price of ₹ 6.82 crores it is 1855 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Flat" at an average cost of ₹ 5,565 / sq.foot followed by "House" priced at ₹ 5,719 / sq.foot. "Commercial" is the most costly type of property with a ₹ 1.47 crores / sq.foot cost followed by "Land" with an average price of ₹ 69.21 lakhs / sq.foot.