The residential market in Cochin

[Tjaden25]

In response to technological innovation, Indian economy has rapidly advanced placing India in the number two position among the fastest growing economics.

In Kerala, property holdings have evolved from a depository of wealth for households into a major force in the debt and equity markets. The residential market in Cochin is appreciating 20 percent annually, fueled mainly by the outsourcing boom.

Many residential and commercial properties have been developed and are still in the process of development all over Cochin. With many new companies establishing a base here, they require both commercial space and residential spaces for their employees.

Most of these firms employ thousands of staff and these people require adequate living space. Currently there is large supply gap and considering the pace of land development and requirement there will continue to be a supply gap.

With shortage of living apartments for this high-income category of professionals, the realty sector in Cochin is in for another bigger surge in price and value. Every time there is a launch of a Cochin apartment or flat project there is a mad scramble to get a good piece by locale residents as well as the NRIs looking for a good investment.

No matter who gets lucky, there are a greater number outside looking for more opportunities to come by. This in turn has increased the rental rates of the available apartments and flats sky high.