The bubble theory is proving to be just that; a theory. The reality is exactly opposite. There is no national real estate market to facilitate this theory. In a country like India, the local economy plays a major role in defining the realty market. What ever effects the market in a metro does not have any influence over the market of a place like Kochi.
In fact, except for some common factors like interest rates, realty market functions quite independently in all places. There is a significant shift of focus from the already ‘bursting at the seams’ big metros, to the Tier 2 cities like Lucknow, Jallandhar, Bhimtal, Vishakhapatnam, Thiruvananthapuram, Kochi to name a few.
Thanks to the zooming economy, the growing IT and ITES sectors the real estate and building industry is witnessing an unprecedented growth. The spreading of these industries to Kerala has enabled the people to dream big. The spending power of people has gone up. Lifestyles are changing. Taking these factors into consideration, the building sector of Kerala has risen to the occasion. Builders in Kerala keep coming up with innovative ideas and designs for buildings while following the rules laid down. Professionalism has become the order of the day.
Depending upon the requirement and spending power of the clients, the builders or housing companies construct apartments, commercial centers, villas or bungalows. These companies are like one stop shops, addressing all the needs of their clients, be it facilitating rentals or securing home loans or even tying up with insurance companies. Hopefully there is more to come.