- Good opportunities in Kochi and Trivandrum
- Credai, Cushman & Wakefield report reveals
A report prepared jointly by Credai, Cushman & Wakefield states that Kerala will soon become the best destination for real estate investments in India. The report, titled ‘Destination Kerala: The Next Big Real Estate Growth Story’, released at the 7th State Con in Kochi, elaborated on many points.
Kerala is the only state in India that does not have a top-8 real estate market. However, a real boom will soon follow in Kerala, and the next phase of commercial real estate growth will continue to be strong, the report said. It explained that the real estate sector is booming, especially in Kochi and Trivandrum. According to the 2011 census, Kerala recorded a high urbanisation rate of 48 percent. This is much higher than our country’s average urbanisation rate (31 percent). Kerala is likely to create a record as a fully urbanised state in about 10 or 12 years. A large number of Keralites are working in high-income countries. This is increasing consumer spending. It is also inviting many retail brands and mall developers to the state. According to a recent NSSO survey, Kerala’s average monthly household expenditure not only exceeded the national average but also surpassed most industrialised states, including AP, Karnataka, and Tamil Nadu. Kerala has an extensive infrastructure network with good roads, railways, airports, and metro rail connectivity. This has made the state an attractive destination for many businesses and individuals.
