Though the demand had started surging more than a year back, initially it did not directly translate into increase in prices because an estimated 500-600 apartments were lying unsold just a year back.
Not only have most of these flats been sold out during the last few months, but based on genuine inquiries and bookings, lots of new schemes are coming up in suburbs such as Edappally, Kakkanad, and Tripunithura areas.
A few new schemes are also coming up in the heart of the city adjacent to the International Stadium, Kaloor, as well as on the Manikath Road in Ravipuram. Many builders are also scouting for land for development in other posh areas such as Thevara and Vytilla.
Though there has been only a faint recovery in prices during the last one year, Anil Kumar, marketing manager of Southern Investments, expects the property prices in Kochi to move up significantly during the coming two to three years.
