Of course, the city has grown as something more than a prime-most tourist destination of God’s own country-Kerala. The local economy has been diversifying with multifarious activities in the commercial segment as well.

It’s interesting to observe that on one side this city has ensconced itself as a calm delightful tourist haven, the other side it has become home to high tech companies dealing in software and IT related services.

Nevertheless, the city has also been enjoying popularity among foreign tourists for its eco-tourism and health tourism facilities. Such things imply that Kochi, formerly called as Cochin, is truly the most buzzing place in the southern Indian state of Kerala.

What’s hot in Kochi residential real estate?

Since, Kochi makes an exquisite combination as an international tourist place, emerging software destination and economic growth centre, its property markets have evinced exuberant interest from buyers and investors.

At first, software professionals hired by the IT companies here are massively contributing to the demand of housing and residential real estate. Investors are equally interested in pumping monies in buying property in Kochi, so as to gain multi-dimensional returns from rise in capital prices and rental values.

Meanwhile, MG Road and Marine Drive are the premium residential locations in Kochi owing to their sea-facing apartments.

New housing projects are underway in the suburbs of Kalamssery, Kakkanad, Edappally, Alwaye and Thripunithua. In fact, country’s leading real estate developers—DLF, Puravankara, Prestige and Sobha Group have spotted the opportunities in Kochi real estate sector and have been carving ambitious plans for the city.

Incredible appreciation

As much as 300 per cent of price appreciation has been seen in the capital prices of residential properties at Marine Drive, Kakkanad, Edapally and Thripunithura. Marine Drive is the biggest accumulator where property rates from Rs 1,500-Rs2,000 psft reached staggering Rs 5,000-Rs 6,500 psft in the past 12 months.

However, prices of flats and apartments in Kochi suburbs are comparatively lower than other southern cities of Bangalore, Hyderabad, or Chennai, at Rs 1,200-Rs 1,800 psft.

As a matter of fact, even the real estate in Thiruvananthapuram is a bit expensive vis-à-vis these figures at Kochi.

Uptrend to continue

As no signs of speculative trading have been noticed in the real estate sector of Kochi, the fundamental market forces seem to be working well in place here. And also because the city has advantages of tourism, among other factors, the Kochi property markets promise bright future, for years to come