The prices in real estate in Kannur, 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 Kannur has had a strong decrease during the last 6 months. In November, the average price per sq.foot was ₹ 3.42 lakhs. In the following month the price per sq.foot decreased considerably to ₹ 2.45 lakhs. The price for the following two months in (January, February) had a considerable decrease of 0 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 1 % 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 ₹ 1.47 lakhs to ₹ 895 during March, and April.
Based upon to the price in Kannur (cities), this has fallen considerably in the last 6 months. The average price for November is ₹ 1.66 crores. During December the price had a considerable reduction till ₹ 1.26 crores. During the following two months (January, February) the average price had a considerable reduction of 38 % 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 ₹ 1.01 crores to ₹ 41.83 lakhs, which means a 42 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 38.26 lakhs they are 23 % more affordable than the average price for Kannur. The properties with the highest average price have 4 BHK, Their price is 115 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 58.16 lakhs.
With regard to the average price per sq.foot , those properties with 4 BHK are the most costly ones at a cost of ₹ 3,691 / sq.foot, with an average ₹ 1,161 / sq.foot price in Kannur. The properties with the highest average prices have 1 BHK. They are 355 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 3,964 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most costly one. At an cost of ₹ 38.26 lakhs it is 36 % more expensive than the average price in Kannur. "Flat" is seen as the second dearest property type. The dearest property type is "House" followed by "Flat". At a price of ₹ 66.51 lakhs it is 128 % more expensive than the average price.
According to the average cost per sq.foot, the most expensive property type would be "Farm" at an average cost of ₹ 3,346 / sq.foot followed by "Flat" priced at ₹ 3,710 / sq.foot. "House" is the most costly type of property with a ₹ 10,237 / sq.foot cost followed by "Flat" with an average price of ₹ 3,710 / sq.foot.