Investing in residential flats in Ernakulam can be a lucrative proposition. Ernakulam is one of the fastest-growing real estate markets in India. The economic growth, rapid urbanization, growing industries like IT and healthcare, and a vibrant social life make the city an attractive destination for people to settle down. And all these factors make housing the most crucial part as people need a place to live. As the demand for housing increases investing in apartments in Ernakulam can offer good rewards in the coming years.
The following pointers should be considered while evaluating a property for investment:
1. Market Analysis
Ernakulam is a growing residential market. Before starting to invest in flats in Ernakulam one should do research on various localities in the cities for investment. Some locations are established as prime locations while others are in the developing stages due to increased infrastructure activity. Evaluation of the expected demand in these locations will make the investment decision easier. For example, investing near IT parks is a good choice as one can expect uninterrupted rental returns.
2. Financial Considerations
The most important motive for investing in property is earning returns. The investor should always aim for property investment that gives maximum returns. Although the real estate industry is growing, and one can earn returns in the coming years, the quantum of returns will vary. The prudent way is to choose a property that will give the best rental yields or returns after the investment. Another important factor is the maintenance costs of the property. The maintenance bills and other expenses need to be factored in while calculating the estimated returns.
3. Location
There is no doubt that some locations will give higher returns than others. Prime locations where the prices of flats for sale in Ernakulam are higher than other locations will not necessarily give better returns. However, by conducting research one can identify upcoming locations that have a potential for high growth within the city. By investing in flats in Ernakulam in Vazhakkala or Aluva which have high growth potential, one can expect to beat conservative returns.
4. Property Condition
The construction and maintenance of the property play a vital role when selecting a property for investment. A property that is well maintained has a better chance of attracting tenants or purchasers. The construction should be of the best quality. There shouldn’t be any defects like cracks or molds which can be a complete deal breaker. The property should have sufficient natural light inside and good ventilation. There should be scope for minor renovation that can enhance the look.
