The world has turned its focus to Kerala in the fight against COVID-19 pandemic. The efficacy with which the state has been monitoring, tracking, quarantining, and curing people has been praiseworthy. Media around the world have reported the Kerala model of COVID-19 prevention. The health minister of the state, KK Shailaja, popularly known as Shailaja teacher, had given live interviews in reputed Medias including the BBC. Kerala could be considered the safest place on earth during this COVID-19 pandemic.
The rapid spread of the pandemic has affected the real estate industry adversely. People have deferred property buying due to the Coronavirus scare and uncertainty regarding the future. The real estate prices have fallen due to the shortage of demand. Consequently, real estate firms and builders are offering incredible discounts and deals to attract customers. If you were dreaming of an apartment in Kochi or in Trivandrum or in any part of Kerala. And you have adequate support, this is the right time to consider the purchase of a property. In this blog post, we are discussing the topic “How safe is Kerala for Property Investment after COVID Pandemic?”.
Is It A Good Time To Buy A House? The Answer Is Yes!
Definitely, it is the best time to buy a house. It could be flats in Kochi or a villa in Kottayam or an independent bungalow in Thrissur. You can go for your dream house. There are several reasons to ascertain that Kerala is the best place for property investment during and after COVID.
Better Health Infrastructure – Kerala has the least COVID-19 mortality rate across the globe. Besides, the life expectancy of people from Kerala is much higher compared to most of the other states in India. The highly developed health infrastructure is the basic reason for both the facts.
Kerala has an adequate number of health centers, clinics, super-specialty hospitals, and medical colleges. The amply qualified doctors, nurses, and health workers are the assets of the health system of the state. They have been playing a vital role in keeping the state healthy. You can expect the best diagnosis, treatment, and medical care in Kerala. This is one of the main reasons for people opting to settle down in the state.
Education – Kerala is one of the most literate states in India. Education has been pivotal in the development of the state, including in the field of tourism. Because of education, people have been well informed. This has also helped the government in the promulgation of orders effectively.
If you consider the present Coronavirus period, it has been easy for the government to educate the people regarding safety precautions against COVID. The people have reciprocated positively to all the directives from the government. Thus, reducing the spread of Coronavirus.
Reduced Demand, hence, Better Deals – As said in the preceding paragraphs, the reduced demand has plummeted the real estate prices. The builders and real estate firms are trying hard to sell the properties around Kerala. The fast-developing places in Kerala viz. Trivandrum, Kochi, Kottayam, and Thrissur have prestigious projects and properties available.
The builders are offering great discounts and payment options for the properties. Their aim is to sell the maximum properties with a minimum profit percentage. The reduced profit percentage to the real estate firms means maximum advantage to the customer.
None of the business organizations will like to have a stalemate in their sales. Since sales only ensure that, their business is moving ahead. That’s why they prefer selling the properties even though the profit margin is less.
Reduced Interest Rates – The Reserve Bank of India has reduced the repo rate by 0.75% to boost the economy during this pandemic period. This has resulted in a decrease in the home loan interest rate. It will be of great advantage for you to take home loans at this time. The interest rates may rise to augment the economy, once the pandemic is in control.
Unlimited Options – The deficit in demand has opened up an array of options for the customers. You can consider buying your dream home at any part of Kerala at an unbelievably discounted price. There are plenty of apartments available in Kochi, Trivandrum, Kottayam, Thrissur, Calicut and other cities in Kerala.
Best Places in Kerala to Invest In A Property
Trivandrum – The capital of Kerala, Trivandrum is one of the fastest developing cities. It is the land of Padmanabha Swamy temple, which has gained wide publicity with the vaults containing invaluable assets. Fame has also ensued a rise in tourists to the city. Trivandrum is the place with the largest number of government offices in Kerala. It is always a good plan to invest in the apartments in Trivandrum.
Kochi – Kochi is the “trending city” in Kerala with the only metro rail service in the state. Being the home for Mollywood, one in each three you find Kochi will be related to the Malayalam film industry. The city has been topping the list of tourist destinations in Kerala, with maximum tourist footprints.
Thrissur – The land of “Thrissur Pooram”, Thrissur is considered as the cultural capital of Kerala. An ideal place to buy property, you can invest in property in Thrissur. The place will offer you both the beauty of a village and the facilities of a modern city.
Kottayam – The land of letters, Kottayam has some of the finest educational institutions in Kerala. The first district to achieve 100% literacy in Kerala, Kottayam offers serene life. Recognizing the city’s growth potential, some of the reputed builders from Kerala have commenced their dream projects.