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Real estate trends in Kerala 2023

Kerala, a southern state of India, is known for its picturesque landscapes, abundant natural resources, and rich cultural heritage. The state's real estate market has been growing steadily over the past few years, and the trend is expected to continue in 2023. Some of the real estate trends that are expected to shape the Kerala market in 2023 include the following:

1. Growing Interest in Sustainable Housing Kerala has always been a state that values environmental conservation and sustainability, and this trend is now reflected in the real estate market as well. Many developers are now focusing on eco-friendly and sustainable housing options that are energy-efficient, use environmentally-friendly materials, and minimize carbon footprint. With the increasing awareness among buyers about the importance of sustainability and environmental impact, the demand for such housing options is expected to increase in 2023.

2. Affordable Housing Options Affordability has always been a concern for buyers in Kerala, and with the pandemic, it has become even more critical. In response, developers are now focusing on creating affordable housing options that cater to the needs of middle-class buyers. This trend is expected to continue in 2023, with developers offering innovative financing options and reducing construction costs to make housing more accessible to a broader section of society.

3. Demand for Properties in Suburban and Rural Areas The real estate market in Kerala has traditionally been focused on the urban centers of Kochi, Thiruvananthapuram, and Kozhikode. However, with the pandemic and the rise of remote work, there has been an increasing interest in properties in suburban and rural areas. Properties that offer open spaces, natural surroundings, and easy access to essential amenities are expected to be in high demand in 2023.

4. Digitization of Real Estate Transactions The pandemic has accelerated the shift towards online transactions and digital marketing, and the real estate industry in Kerala is no exception. Developers and real estate agents are now leveraging technology to showcase properties, conduct virtual tours, and facilitate online transactions. This trend is expected to continue in 2023, with more buyers and sellers embracing digital platforms for real estate transactions.

5. Luxury and Premium Properties Kerala has always been a state that values luxury and premium living, and this trend is reflected in the real estate market as well. Developers are now offering high-end, luxury properties that cater to the needs of affluent buyers. These properties offer state-of-the-art amenities, premium finishes, and top-of-the-line security features. The demand for luxury and premium properties is expected to increase in 2023, as the state's economy continues to grow.

6. Focus on Health and Wellness The pandemic has brought health and wellness to the forefront, and the real estate industry in Kerala is now responding to this trend. Developers are now offering properties that prioritize health and wellness, with features such as green spaces, jogging tracks, yoga studios, and fitness centers. This trend is expected to continue in 2023, with buyers seeking properties that offer a healthy and balanced lifestyle.

In conclusion, the real estate market in Kerala is expected to witness some exciting trends in 2023. The growing interest in sustainable and affordable housing, the demand for properties in suburban and rural areas, the digitization of real estate transactions, and the focus on luxury and wellness are some of the trends that are expected to shape the market. With the right mix of innovation, technology, and sustainability, the Kerala real estate market is poised for growth and success in the coming years.