The prices in real estate in Kannur, in the Kerala region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.foot in Kannur has increased strongly during the last 6 months. In April, the average price per sq.foot was ₹ 43,599. In the following month the price per sq.foot increased considerably to ₹ 2.96 lakhs. The price for the following two months in (June, July) had a considerable decrease of 22 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 ₹ 1.04 lakhs to ₹ 692.5 during August, and September.
Based upon to the price in Kannur (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is ₹ 91.99 lakhs. In May This price remains at ₹ 92.79 lakhs. In the following two months the average price has remained the same with regard to the previous two months from ₹ 92.39 lakhs to ₹ 89.66 lakhs. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 91.02 lakhs to ₹ 17.32 lakhs, which means a 19 % fall.