The tourism and IT sector in Kerala have together given a thrust to the newbielink:http://www.kenthomes.in/ [nonactive]
market. The demand for land and building in the state has had a sudden increase when many people started to buy property in Kerala. They use it for either residential purposes or commercial purposes. Many new IT parks and firms are being launched in the state. Branches of many multinational companies are also being opened in Kerala. Spaces for all these are essential and the builders in Kerala are approached for the same. The land owners and property dealers too can avail high profits since the land near these IT firms are demanded by many, especially the professionals and job seekers.
The tourism industry too has its influence on the property market in Kerala. The state is already known for its aesthetic backwaters and lush greenery. Apartments and villas near such tourist spots have much demand and are priced comparatively high. Same is the case with those near the IT hub and multinational companies. Cost and demand of properties also depend on the nearby facilities such as health care centers, spa, shopping malls, hospitals, educational institutions etc. People have pinned much hope on the investment prospects in Kerala real estate. They have started realizing that the field is comparatively risk free, especially in Kerala which is not only popular for its scenic beauty but also is soaring high in terms of development and urbanization. Many NRIs too have started investing their wealth in the Kerala property market.