Kochi is riding the crest of the construction boom and selling trends that have surfaced in recent times are often mind-boggling. Many builders confided that 40-70 % of their apartments and flats are sold out during pre-launch of a project.
A good number of the apartments are sold abroad to NRIs eager to invest in multiple residential properties in Kochi. NRIs, like film industry superstars and politicians to name a few are very wise regarding their investment. They have recognized the high return potential inherent in Kochi market and are intent on buying up
Kochi apartments before the price goes up.
The price of apartments and flats go up during the launch and further higher during the construction phase. Booking flats during pre-launch increases your profit margin in an apartment.
The residential apartment sector in Kochi seems to have becomes the proverbial goose that lays the golden egg to many. Every body wants a piece of Kochi, the higher up the better. Everyone is on the lookout to strike gold and many have struck it too. Where else would one get a ridiculous 100- 400 % profit in a matter of months?
The real estate agents also play a major role in driving land speculation at times and are often responsible in forcing the price well beyond the actual range. However, this is next to non-existent in the case of sale of apartments and flats.