Kerala Real Estate Trends 2023

Kerala, God's Own Country, is famous for its natural beauty and, in the same vein, for its booming real estate market. Over the years, the real estate sector in Kerala has witnessed significant growth. It makes a lucrative industry for both domestic and international buyers and sellers. Indeed, with various factors like scenic backdrops, high literacy rates, and a vibrant tourism industry, Kerala has seen a steady demand for properties. In this blog, we will explore the real estate trends in Kerala for the year 2023, discussing the impact of recent regulatory changes, how to invest in real estate, its advantages, and the best places to consider buying a home in Kerala.

What is Real Estate Investment?

Investing in real estate involves buying or selling property to make a profit. There are several ways to do this, including purchasing and holding property to generate rental income or buying a property to renovate and resell it for a profit. This purpose involves various properties, including residential, commercial, and industrial. Real estate investments are frequently regarded as a safe and rewarding alternative because of the possibility for long-term capital appreciation and consistent rental income.

Know How to Invest in Real Estate in Different Ways:

1) Direct ownership: You can purchase a property and rent it to tenants to generate rental income. This can be a hands-on approach to real estate investment, as you will be responsible for managing the property and dealing with tenants.

2)Real estate investment trusts (REITs): REITs own and operate income-generating real estate such as apartments, hotels, or office buildings. By investing in a REIT, you can gain exposure to real estate without owning the physical property.

3)Real estate crowdfunding: These platforms enable investors to combine their finances and invest in various real estate ventures. This can be a way to invest in real estate with a lower initial investment, but it's essential to research and understand the risks involved.

Not to mention, it can also be a daunting task for those who are new to the world of real estate investment. If you're considering investing in real estate, it's essential to have a good understanding of what it entails and how to get started

Is Real Estate a Good Investment?

Yes, without a doubt. Real estate investment is widely regarded as a viable alternative due to its potential to create passive income and long-term appreciation in value.  Additionally, it provides diversification chances for investors' portfolios and serves as a hedge against inflation, earning a higher return than other types of investments. Unlike stocks or bonds, real estate investments can provide a steady income stream through rental income.

However, like any investment, risks include property market fluctuations, maintenance costs, and legal issues. Hence it requires careful consideration to know how to invest in real estate.

Some of the advantages of real estate investment include:

1)Tangible Asset: Unlike stocks or bonds, real estate is a tangible asset with intrinsic value. It provides a sense of security and stability, as properties tend to appreciate over time.

2)Regular Rental Income: If you invest in residential or commercial properties, you can earn a steady income stream through rental payments.

3)Diversification: Real estate investments can diversify your portfolio, reducing overall risk. It is a relatively stable investment option that performs well even during economic downturns.

4)Potential for Appreciation: Real estate properties have the potential to appreciate significantly over time, mainly if located in desirable locations or areas experiencing rapid development.

Impact of RERA on Kerala Real Estate

The Real Estate (Regulation and Development) Act 2016 (RERA) was a game-changer for the Indian real estate sector, including Kerala. RERA strives to protect homebuyers' interests while promoting transparency and accountability in the real estate field. It has significantly changed how real estate projects are developed, marketed, and delivered. RERA has encouraged developers to complete projects on time, maintain construction quality, and provide clear and detailed information to buyers. This has boosted buyer confidence and improved the overall credibility of the real estate market in Kerala.

Considering Buying a Home?

If you are considering buying a home in Kerala, it is essential to assess your goals, budget, and preferences carefully. Whether you are purchasing a property for investment purposes or to reside in, factors such as location, amenities, and infrastructure play a crucial role in making the right decision.

Villas vs. Apartments

Choosing between a villa and an apartment depends on individual preferences, lifestyle, and budget. Villas offer more privacy, exclusivity, and space, while apartments provide convenience, security, and shared amenities. I think evaluating these factors and deciding which option aligns better with your requirements is necessary.

Villas offer more privacy, space, and customization options compared to apartments. Individuals or families often prefer their luxurious and independent lifestyle. On the other hand, apartments are more affordable and require less maintenance. They offer various amenities and facilities within the building complex. They suit individuals or families looking for a community living experience and convenience.

The Best Places in Kerala for Buying a Home

1)Trivandrum: The capital city, Trivandrum, offers a vibrant real estate market with a range of residential properties. It has well-developed infrastructure, excellent educational and healthcare facilities, and a pleasant climate, making it an ideal place to live. Areas like Kazhakkoottam, Peroorkada, and Vattiyoorkavu are popular among homebuyers. The city encourages realty trends and a multi-cultural population with great entertainment options making it the best to live in!

Discover your dream villas for sale in Trivandrum

2)Thrissur: Known as the cultural capital of Kerala, Thrissur has a rich heritage and traditional charm. It offers a mix of modern and conventional residential properties at competitive prices. Thrissur is well-connected to major cities and has a growing job market, making it a popular choice for homebuyers. The city has sought-after residential locations like Swaraj Round, Punkunnam, and Koorkenchery.

Discover your dream villas for sale in Thrissur

3)Palakkad: Known for its lush greenery, historical monuments and beautiful landscapes, Palakkad is one of its kind .With its serene surroundings and greenery is an upcoming real estate hotspot in Kerala. The town of Ottapalam with its tranquil ambiance and excellent connectivity offers affordable residential options, making it an attractive choice for budget-conscious buyers.

Discover your dream villas for sale in Palakkad

To Sum Up

Real estate investment considers to be one of the safest and most reliable options, often providing substantial returns. The real estate market in Kerala is witnessing positive growth, driven by infrastructure developments, increased urbanization, and a rising number of non-resident Keralites investing in the state. However, conducting thorough research, seeking professional advice, and considering individual preferences and financial capabilities before making real estate investment decisions is crucial. Investing in Kerala's real estate with careful planning and expert guidance can be a profitable venture in the long run.