Real Estate

Socioeconomic factors change trend in the construction of a house in Trivandrum

Most people in Kerala, even in its capital Trivandrum, did not consider apartments/flats as an option for a home as recently as 10-15 years ago. However, in the last decade this has changed due to land scarcity and the upwardly mobile middle class who want to move closer to the city.

New nuclear families breaking away from traditional blended families were another important factor. The great families united in traditional houses were now two or more nuclear families with fewer members. Traditional “nalukettu” house styles were no more popular. Instead, 3- or 2-bedroom flats became more common. With the rise of nuclear homes, home security, which was not a major issue during the joint family system, is better served by apartment complexes that generally have 24-hour security.

Now Trivandrum flats have changed the face of the city with many leading property developers building many gated community housing and villa projects in the city.

These can be attributed to many factors. The improvement of the financial situation of the middle class in the state is the most outstanding of them. Being the capital city, this is especially true of Trivandrum, which has a large number of governments. civil servants and other bureaucrats. The other contributing factors are the influx of foreign money through investments by non-resident Indians in the city. Also, the easy availability of affordable home loans for the middle class. This created a huge demand for quality living spaces.

In summary, the different socioeconomic factors contributed to the change in lifestyle that is also reflected in human habitats.

Property developers in and out of Kerala have identified this opportunity to create apartment and villa projects that can meet the demands of clients of all kinds, both low and high end of the market. Apartments in the mid-range of the market are more popular in Trivandrum.