This Tier 2 City Recorded the Fastest Growth in Online Homebuying Search Activity in the Southern Region: Find Out the Details

The transformation of the Indian real estate sector is evident, moving beyond the conventional confines of major cities. Tier 2 cities are now asserting themselves as significant contributors to overall growth. Fuelled by a confluence of elements such as policy advancements, enhanced connectivity, and the establishment of both national and multinational corporations, these expanding urban centres have garnered attention from investors, developers, and potential homeowners alike.

Given the strong potential, Kochi’s residential market recorded the fastest growth in online high-intent homebuying search activity in the southern region. According to the Housing.com’s IRIS Index, which tracks the online property search volume of high-intent homebuyers, Kochi secured a spot in the top 20 cities.

This achievement underscores the city’s dynamic real estate market and its ability to attract serious homebuyers. Judiciously blending tradition with modernity, Kochi stands as a testament to active growth and adaptability in its residential real estate market. From traditional neighbourhoods to cutting-edge developments, the housing landscape in Kochi has undergone significant evolution, mirroring both economic progress and shifting lifestyle preferences. The city’s rich cultural heritage, coupled with its economic vibrancy, has positioned it as an attractive choice for both residents and investors alike.

Growth Drivers

The transformation of Kochi’s real estate market can be traced back to strategic infrastructural developments, including the Kochi Metro, and a flourishing IT sector. The city has experienced a surge in commercial and industrial hubs, leading to increased employment opportunities and a growing influx of professionals seeking homes in the area. Today, Kochi’s residential market caters to a diverse range of buyers, offering affordable housing options as well as luxurious waterfront properties. The focus on sustainable and eco-friendly development further enhances the city’s appeal and is expected to shape its real estate market in the future.

Preferred Neighbourhoods in the City

Several localities have gained popularity on Kochi’s real estate scene. The preferred locations for potential homebuyers, as revealed by online searches, include Kakkanad, Edappally, and Thrippunithura, along with Vyttila and Kaloor.

Each area has unique characteristics contributing to its popularity, such as the thriving IT landscape in Kakkanad, the commercial vibrancy and connectivity in Edappally, or the cultural heritage and residential ambiance in Thrippunithura. The sustained popularity of these localities highlights the competitiveness of Kochi’s real estate market.

Residential prices in Kakkanad are stated within the range of INR 5,000/sqft to INR 7,000/sqft, while Edapally reflects prices from INR 6,000/sqft to INR 8,000/sqft. Thrippunithura, on the other hand, sees prices falling within the bracket of INR 5,500/sqft to INR 7,500/sqft.

Increased Inclination Towards Larger Homes

Online property searches also reveal a preference for 3BHK homes, indicating a desire for expansive and adaptable living spaces that can accommodate dedicated home offices or guest rooms. Following closely, 2BHK configurations are the next popular option, chosen by smaller families and young professionals for their economical pricing and efficient use of space.

Preferred Budget Range

In terms of budget, the majority of prospective property buyers in Kochi are seeking apartments priced between INR 50 lakh to INR 1 crore.

This price range caters to diverse housing needs, appealing to young professionals, growing families, and those seeking a balance between affordability and desirable amenities. Apartments in this range often offer a blend of modern conveniences, strategic locations, and reasonable pricing, making them attractive to a broad demographic.

Summing Up

In conclusion, Kochi's residential real estate market is poised for sustained growth. The city's commitment to further infrastructural development, including the expansion of the metro network and improved road connectivity, is set to enhance the accessibility of various localities. As Kochi continues to attract investments and businesses, the demand for residential properties is expected to remain robust, solidifying the city's position as a thriving and dynamic real estate market in the southern region.

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