The prices in real estate in Kochi, 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 Kochi has increased strongly during the last 6 months. In July, the average price per sq.foot was ₹ 2,853. In the following month the price per sq.foot increased considerably to ₹ 3,336. The price for the following two months in (September, October) decreased 89 % with regard to the prior two months. The price per sq.foot has had a considerable increase of 139 % 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 ₹ 2,929.25 to ₹ 4,065 during November, and December.
Based upon to the price in Kochi (cities), these have remained the same in the last 6 months. The price in July is ₹ 67.85 lakhs, rising in August till ₹ 73.55 lakhs. During the following two months (September, October) the average price had a considerable reduction of 82 % 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 risen strongly 125 % 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 ₹ 91.36 lakhs they are 62 % more affordable than the average price for Kochi. The properties with the highest average price have 4 BHK, Their price is 18 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 88.21 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 4,892 / sq.foot, with an average ₹ 4,937 / sq.foot price in Kochi. The properties with the highest average prices have 3 BHK. They are 5 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 5,067 / sq.foot.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of ₹ 91.36 lakhs it is 38 % cheaper than the average price in Kochi. "Land" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of ₹ 1.01 crores it is 311 % more expensive than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 1,367 / sq.foot followed by "Office" priced at ₹ 3,421 / sq.foot. "Flat" is the most costly type of property with a ₹ 5,627 / sq.foot cost followed by "Villa" with an average price of ₹ 5,310 / sq.foot.