The property market is going through a roller coaster ride regarding the prices in major cities in India. For the last few years, the market has come down a good percentage points compared to previous years. The economic crises of 2008s did not affect the market as such, and the property prices were stable. However, the prices are not a stable count for the last few years.
There are couple of reasons for that, the major one being the crisis in the domestic economy. The economy is hardly growing for the last few years and it has directly affected the market. There are not too many mega infrastructure projects coming and the real estate sector is not growing.
The property boom in Kerala was always pushed by the NRI money that flows from the Gulf in billions every year. For couple of years, that money has also skewed and the fund flow is not coming. This has also affected the land market in Kerala. However 2014 estimated to be a good year for the market in general since this is an election year. The new government is expected to give big boost to the economy by some huge infra projects and some monetary policy changes.
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