The prices in real estate in Kochi, 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 Kochi has had a strong decrease during the last 6 months. In July, the average price per sq.foot was ₹ 39,882. In the following month the price per sq.foot decreased considerably to ₹ 10,061. The price for the following two months in (September, October) had a considerable decrease of 19 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 54 % 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 ₹ 14,811.25 to ₹ 8,013 during November, and December.
Based upon to the price in Kochi (cities), this has gone downing the last 6 months. The average price for July is ₹ 1.03 crores. During August the price had a slight fall till ₹ 92.85 lakhs. During the following two months (September, October) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from ₹ 94.94 lakhs to ₹ 88.89 lakhs in November and December.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 80.8 lakhs they are 57 % more affordable than the average price for Kochi. The properties with the highest average price have 4 BHK, Their price is 33 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 88.04 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the cheapest ones at a cost of ₹ 4,882 / sq.foot, with an average ₹ 10,546 / sq.foot price in Kochi. The properties with the lowest average prices have 3 BHK. They are 51 % cheaper than the average followed by properties with 1 BHK with a price at ₹ 5,055 / sq.foot.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of ₹ 80.8 lakhs it is 31 % cheaper than the average price in Kochi. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₹ 74.5 lakhs it is 25 % 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 ₹ 1,363 / sq.foot followed by "Office" priced at ₹ 3,373 / sq.foot. "Villa" is the cheapest type of property with a ₹ 5,298 / sq.foot value followed by "House" with an average price of ₹ 4,417 / sq.foot.