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 June, the average price per sq.foot was ₹ 21,874. In the following month the price per sq.foot increased considerably to ₹ 25,887. The price for the following two months in (August, September) had a considerable decrease of 36 with regard to the prior two months. The price per sq.foot has had a considerable deflation of 24 % 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 ₹ 16,217.5 to ₹ 3,969.5 during October, and November.
Based upon to the price in Kozhikode (cities), this has gone up considerably in the last 6 months. In our first sample month during June, the average price is ₹ 80.52 lakhs. In July This price remains at ₹ 82.01 lakhs. During the following two months (August, September) the average price had a considerable increase of 288 % 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 ₹ 1.58 crores to ₹ 1.03 crores, which means a 65 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 1.4 crores they are 74 % more affordable than the average price for Kozhikode. The properties with the lowest average price have 4 BHK, Their price is 9 % cheaper than the average. After that we have properties with 3 BHK priced at ₹ 49.07 lakhs.
With regard to the average price per sq.foot , those properties with 3 BHK are the cheapest ones at a cost of ₹ 3,911 / sq.foot, with an average ₹ 5,960 / sq.foot price in Kozhikode. The properties with the highest average prices have 2 BHK. They are 2145 % more expensive than the average followed by properties with 1 BHK with a price at ₹ 35,431 / sq.foot.
The graph displaying the average prices displays the property type "Farm" as the most affordable one. At an cost of ₹ 1.4 crores it is 66 % cheaper than the average price in Kozhikode. "Land" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Villa". At a price of ₹ 79.61 lakhs it is 38 % more affordable than the average price.
According to the average cost per sq.foot, the cheapest property type is "Land" at an average cost of ₹ 1,437 / sq.foot followed by "Farm" priced at ₹ 2,189 / sq.foot. "Villa" is the most costly type of property with a ₹ 1.28 lakhs / sq.foot cost followed by "House" with an average price of ₹ 16,739 / sq.foot.