The prices in real estate in Kozhikode, 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 Kozhikode has had a strong decrease during the last 6 months. In January, the average price per sq.foot was ₹ 48,545. In February this price pretty much remained the same at a value of ₹ 48,495 per sq.foot. The price for the following two months in (March, April) had a considerable decrease of 57 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 21 % 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 ₹ 38,096.5 to ₹ 8,000.5 during May, and June.
Based upon to the price in Kozhikode (cities), these have remained the same in the last 6 months. In our first sample month during January, the average price is ₹ 1.08 crores. In February This price remains at ₹ 1.03 crores. During the following two months (March, April) the average price had a considerable increase of 126 % 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 ₹ 1.19 crores to ₹ 86.96 lakhs, which means a 73 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 80.84 lakhs they are 55 % more affordable than the average price for Kozhikode. The properties with the highest average price have 4 BHK, Their price is 59 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 49.41 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 3,939 / sq.foot, with an average ₹ 11,103 / sq.foot price in Kozhikode. The properties with the highest average prices have 2 BHK. They are 1114 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 35,683 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 80.84 lakhs it is 41 % cheaper than the average price in Kozhikode. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Flat". At a price of ₹ 80.17 lakhs it is 8 % 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 ₹ 1,471 / sq.foot followed by "Farm" priced at ₹ 2,240 / sq.foot. "Flat" is the most costly type of property with a ₹ 1.29 lakhs / sq.foot cost followed by "House" with an average price of ₹ 16,858 / sq.foot.