Nursery Rhymes

Joined: 13 Nov 2007 Posts: 1

The demand for property continues to go up. This is what builders of Cochin apartments feel, and the ongoing property show organised by them in Kochi underlines the trend. Space constraints in Kochi make the growth of the city vertical. In a few years from now, most of the people will be living in apartments, and it will become the city's culture too. Kochi is by far the cheapest upcoming place compared with other cities which lure big investors. In the metros and other big cities such as Bangalore and Hyderabad, property prices have escalated sky-high. Kochi has since become a favourite hunting ground for major corporates and other industries.

It is not just the information technology industry that is making its presence felt, but other projects, such as the international container transshipment terminal at Vallarpadam, and promise of an attractive tourism industry, coupled with medical tourism, are also putting Kochi on a higher plane. Real estate majors and big builders from outside the State have already started making their presence felt by announcing a number of projects. All these enquiries have pushed up prices, but it is the need of housing that has propped up the construction industry at Kochin.
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Till now, the major investors in property have been non-resident Indians (NRIs). Now, the local market has picked up too. The real buyers and end-users are these people. The NRIs invest in property as part of business investment since bank deposits do not give them high returns. However, property gives them good returns on investment. It is the only asset which keeps appreciating over the years.