Post by carter21 on Sept 15, 2011 1:11:19 GMT -5
When talking about a boom in Real Estate Cochin saw a major price rise in the early 1990’s, which lasted until the year 1996. In this period, some parts of the city witnessed phenomenal increase in the value of the property. The commercial M.G.Road witnessed land value appreciation by more than 100 percent. However, this trend did not last long.
After the year 1996, property prices stagnated and there were few takers for landed properties even in the prominent city centers. When the real estate boom began, lot of people came into this business. When the boom tapered off, most of the real estate firms literally found the going tough and fell out of the business. However, the genuine players stayed on and are now heralding a new business pattern, which is of great benefit to both the buyer and the seller. The shake up in the market thus ensured the total rout of the unscrupulous players and helped the genuine players to prove their mettle. In the future, only those genuine honest players will be able to stay afloat in the Cochin real estate sector.
The boom in real estate in Cochin has already caught the attention of the global players. According to recent reports, scores of prominent global realtors are now awaiting the government nod to enter into the hot real estate market in Cochin. Recently a Malaysian firm has even evinced keen interest to own prime properties near the Cochin Shipyard. If the deal gets through it will be one of the largest foreign investments into Cochin.
Already the entry of the prominent builders who have made it big in the four metros has led to phenomenal changes in the Cochin skyline. These builders are also having scores of ongoing and finished projects in overseas destinations. The confidence reposed on these builders is a testimony to the quality standards adhered to and the after sales services provided. Thus, the very presence of these builders on destinations like Cochin has resulted in scores of global realtors trying to gain a foothold into the hot real estate market in Kerala.
After the year 1996, property prices stagnated and there were few takers for landed properties even in the prominent city centers. When the real estate boom began, lot of people came into this business. When the boom tapered off, most of the real estate firms literally found the going tough and fell out of the business. However, the genuine players stayed on and are now heralding a new business pattern, which is of great benefit to both the buyer and the seller. The shake up in the market thus ensured the total rout of the unscrupulous players and helped the genuine players to prove their mettle. In the future, only those genuine honest players will be able to stay afloat in the Cochin real estate sector.
The boom in real estate in Cochin has already caught the attention of the global players. According to recent reports, scores of prominent global realtors are now awaiting the government nod to enter into the hot real estate market in Cochin. Recently a Malaysian firm has even evinced keen interest to own prime properties near the Cochin Shipyard. If the deal gets through it will be one of the largest foreign investments into Cochin.
Already the entry of the prominent builders who have made it big in the four metros has led to phenomenal changes in the Cochin skyline. These builders are also having scores of ongoing and finished projects in overseas destinations. The confidence reposed on these builders is a testimony to the quality standards adhered to and the after sales services provided. Thus, the very presence of these builders on destinations like Cochin has resulted in scores of global realtors trying to gain a foothold into the hot real estate market in Kerala.