The prices in real estate in Kollam, 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 Kollam has had a strong decrease during the last 6 months. In November, the average price per sq.foot was ₹ 51,942. In the following month the price per sq.foot decreased to ₹ 46,413. The price for the following two months in (January, February) had a considerable decrease of 4 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 6 % 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 ₹ 25,643.5 to ₹ 1,449.5 during March, and April.
Based upon to the price in Kollam (cities), this has fallen considerably in the last 6 months. The average price for November is ₹ 95.69 lakhs. During December the price had a slight fall till ₹ 88.06 lakhs. During the following two months (January, February) the average price had a considerable reduction of 73 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₹ 79.7 lakhs to ₹ 35.36 lakhs, which means a 44 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 39.6 lakhs they are 27 % more affordable than the average price for Kollam. The properties with the highest average price have 4 BHK, Their price is 126 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 53.74 lakhs.
With regard to the average price per sq.foot , those properties with 2 BHK are the most costly ones at a cost of ₹ 3,077 / sq.foot, with an average ₹ 1,618 / sq.foot price in Kollam. The properties with the highest average prices have 1 BHK. They are 326 % more expensive than the average followed by properties with 4 BHK with a price at ₹ 3,832 / sq.foot.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of ₹ 39.6 lakhs it is 7 % cheaper than the average price in Kollam. "Flat" is seen as the second most affordable property type. The dearest property type is "House" followed by "Villa". At a price of ₹ 55.43 lakhs it is 91 % more expensive than the average price.
According to the average cost per sq.foot, the most expensive property type would be "Land" at an average cost of ₹ 2,482 / sq.foot followed by "Farm" priced at ₹ 2,845 / sq.foot. "House" is the most costly type of property with a ₹ 22,197 / sq.foot cost followed by "Flat" with an average price of ₹ 3,744 / sq.foot.