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Demand For Flood-Resilient Houses Located Far Away From Rivers Rises In Kerala Following Devastating Floods
Kerala floods (Raj K Raj/Hindustan Times via Getty Images)
Kerala’s real estate sector has seen a rise in demand for houses located on elevated areas far from the rivers which were responsible for the devastating floods in the state, the New Indian Express has reported. This is in stark contrast to the earlier trend where the demand for properties near water bodies was higher in comparison to others.
“The sector is limping back to normal. It is quite natural that buyers would prefer places not affected by the floods. This has not reflected on prices as sales are low. In Ernakulam, sales are just picking up. Properties in places like Vyttila, Kadavanthra, Panampilly Nagar, Kakkanad and Tripunithura are getting more enquiries,” Kerala Realtors Association president Abjo Joy told The New Indian Express.
The report claimed that various well to do families who live in low lying areas are now thinking of moving to upland areas.
Sales of properties dropped in the month of August after the state was ravaged by floods. As a result, the revenue department saw a dip in its collections. The number of documents registered fell from 74,413 in July to 52,419 in August.
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