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 March, the average price per sq.foot was ₹ 8,691. In the following month the price per sq.foot decreased to ₹ 8,044. In the following two months the price per sq.foot has increased 115 %, going from ₹ 8,367.5 to ₹ 9,611.5 per sq.foot. The price per sq.foot has had a considerable deflation of 29 % 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 ₹ 8,989.5 to ₹ 2,646 during July, and August.
Based upon to the price in Kochi (cities), this has fallen considerably in the last 6 months. The average price for March is ₹ 1.84 crores. During April the price had a slight fall till ₹ 1.7 crores. In the following two months the average price has remained the same with regard to the previous two months from ₹ 1.77 crores to ₹ 1.75 crores. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 1.76 crores to ₹ 64.67 lakhs, which means a 37 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 70.87 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 79 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 61.2 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the most costly ones at a cost of ₹ 4,357 / sq.foot, with an average ₹ 2,767 / sq.foot price in Kochi. The properties with the highest average prices have 2 BHK. They are 338 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 5,341 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 70.87 lakhs it is 39 % cheaper than the average price in Kochi. "Office" is seen as the second most affordable property type. The dearest property type is "House" followed by "Villa". At a price of ₹ 69.68 lakhs it is 92 % 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 ₹ 1,144 / sq.foot followed by "Office" priced at ₹ 3,341 / sq.foot. "House" is the most costly type of property with a ₹ 32,633 / sq.foot cost followed by "Flat" with an average price of ₹ 17,377 / sq.foot.