The prices in real estate in Trivandrum, 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 Trivandrum has had a strong decrease during the last 6 months. In March, the average price per sq.foot was ₹ 30,728. In the following month the price per sq.foot decreased to ₹ 26,682. In the following two months the price per sq.foot has increased 109 %, going from ₹ 28,705 to ₹ 31,278 per sq.foot. The price per sq.foot has had a considerable deflation of 7 % 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 ₹ 29,991.5 to ₹ 2,221 during July, and August.
Based upon to the price in Trivandrum (cities), this has fallen considerably in the last 6 months. The average price for March is ₹ 1.03 crores. During April the price had a slight fall till ₹ 93.94 lakhs. During the following two months (May, June) the average price had a considerable reduction of 85 % 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 ₹ 90.85 lakhs to ₹ 54.15 lakhs, which means a 60 % fall.
The graph displaying the average price for BHK illustrates that those properties with 1 BHK are the cheapest ones. At a price of ₹ 55.78 lakhs they are 48 % more affordable than the average price for Trivandrum. The properties with the highest average price have 4 BHK, Their price is 56 % more costly than the average. After that we have properties with 3 BHK priced at ₹ 64.3 lakhs.
With regard to the average price per sq.foot , those properties with 4 BHK are the most costly ones at a cost of ₹ 4,014 / sq.foot, with an average ₹ 2,099 / sq.foot price in Trivandrum. The properties with the highest average prices have 1 BHK. They are 113 % more expensive than the average followed by properties with 2 BHK with a price at ₹ 4,252 / sq.foot.
The graph displaying the average prices displays the property type "Office" as the most costly one. At an cost of ₹ 55.78 lakhs it is 5 % more expensive than the average price in Trivandrum. "Commercial" is seen as the second dearest property type. The dearest property type is "Flat" followed by "House". At a price of ₹ 73.06 lakhs it is 38 % more expensive than the average price.
According to the average cost per sq.foot, the most expensive property type would be "House" at an average cost of ₹ 4,152 / sq.foot followed by "Flat" priced at ₹ 4,238 / sq.foot. "Commercial" is the most costly type of property with a ₹ 5,582 / sq.foot cost followed by "Office" with an average price of ₹ 4,460 / sq.foot.