Safety and security concerns are a major factor in many people opting for
Kerala flats, resulting in a boom in construction industry. According to sources in the construction sector, ready flats have all been sold out while new projects in various stages of completion are also booked.
The demand is testimony to people's preference shifting towards community living. A nuclear family, where both husband and wife are working, prefers a flat for safety, security and, of course, convenience. Even well- known and affluent local families having ancestral homes are now living in flats. The increase in crime rates in recent times had a direct role in these people opting for community living.
For aged people, apartments are definitely more convenient, while working couples can engage part-time servants besides seeking mutual assistance from those living next door. Thus, considerations of safety and convenience have take precedence over factors such as cost of living.
In the past, people used to buy flats just a few years before their retirement. But now, young professional couples in their late 20s are buying flats, thanks to the higher earnings and low-cost loans extended by banks. Added to this is the income tax benefit available on housing loan interests.
Many websites have mushroomed too and some like keralascan.com and Kerala realestateinvestors.com are doing good business as intermediaries.
