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 November, the average price per sq.foot was ₹ 4,001. In the following month the price per sq.foot increased considerably to ₹ 7,148. The price for the following two months in (January, February) had a considerable increment of 1203 %. The price per sq.foot has had a considerable increase of 163 % 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 ₹ 36,313.75 to ₹ 59,342.5 during March, and April.
Based upon to the price in Kannur (cities), this has gone up considerably in the last 6 months. In our first sample month during November, the average price is ₹ 63.55 lakhs. In December This price remains at ₹ 61.94 lakhs. During the following two months (January, February) the average price had a considerable increase of 162 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 109 % during the last two months.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 91.99 lakhs they are 62 % more affordable than the average price for Kannur. The properties with the lowest average price have 4 BHK, Their price is 10 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 58.63 lakhs.
With regard to the average price per sq.foot , those properties with 4 BHK are the cheapest ones at a cost of ₹ 3,727 / sq.foot, with an average ₹ 43,599 / sq.foot price in Kannur. The properties with the lowest average prices have 1 BHK. They are 89 % cheaper than the average followed by properties with 2 BHK with a price at ₹ 4,001 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 91.99 lakhs it is 42 % cheaper than the average price in Kannur. "Flat" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Flat". At a price of ₹ 67.11 lakhs it is 4 % more affordable than the average price.
According to the average cost per sq.foot, the cheapest property type is "Farm" at an average cost of ₹ 3,442 / sq.foot followed by "Flat" priced at ₹ 3,746 / sq.foot. "House" is the cheapest type of property with a ₹ 10,336 / sq.foot value followed by "Flat" with an average price of ₹ 3,746 / sq.foot.