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 March, the average price per sq.foot was . In the following month the price per sq.foot increased considerably to ₹ 3,801. The price for the following two months in (May, June) had a considerable increment of 196 %. The price per sq.foot has increased 110 % 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 ₹ 2,809 to ₹ 3,094.5 during July, and August.
Based upon to the price in Kochi (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during March, is . During April the price went through a considerable rise reaching ₹ 64.33 lakhs. During the following two months (May, June) the average price had a considerable increase of 206 % 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 144 % during the last two months.
The graph displaying the average price for BHK illustrates that those properties with 2 BHK are the cheapest ones. At a price of ₹ 73.55 lakhs they are 36 % more affordable than the average price for Kochi. The properties with the highest average price have 4 BHK, Their price is 57 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 74.3 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the most costly ones at a cost of ₹ 4,492 / sq.foot, with an average ₹ 3,336 / sq.foot price in Kochi. The properties with the highest average prices have 1 BHK. They are 110 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 4,626 / sq.foot.
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of ₹ 73.55 lakhs it is 23 % cheaper than the average price in Kochi. "Land" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of ₹ 79.61 lakhs it is 11 % 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 ₹ 2,110 / sq.foot followed by "Office" priced at ₹ 3,437 / sq.foot. "Flat" is the most costly type of property with a ₹ 5,258 / sq.foot cost followed by "House" with an average price of ₹ 4,922 / sq.foot.