NRI Demand Drives Thiruvananthapuram's Real Estate Boom
Thiruvananthapuram’s residential property market hit a historic milestone in 2024, registering 2,987 units under the Kerala Real Estate Regulatory Authority (K-RERA) – surpassing Ernakulam’s 2,864 units for the first time. This 49% year-on-year increase marks a strategic shift as India’s diaspora and professionals from neighboring states target Kerala’s capital for its unique blend of urban infrastructure and serene living conditions.
Key Growth Drivers
- Global Indian Appeal: NRIs returning to India after overseas assignments favor Thiruvananthapuram for its cultural heritage and modern amenities like world-class healthcare, and education hubs.
- Neighboring State Professionals: Executives and IT enthusiasts from Tamil Nadu and others benefit from higher salary-to-EMI ratios compared to Kochi’s crowded market.
- Emerging Economic Identity: The city’s administrative nerve center, expanding IT sector, and the Vizhinjam International Port emerging as a logistical hub and MNC fuel job opportunities.
Why Thiruvananthapuram Shines
- Affordable Premium Living: Property prices stay lower than Ernakulam, making luxury 2-3 BHK apartments affordable for professionals & investors.
- Low Traffic, High Quality of Life: Unlike traditional hubs, its relaxed environment improves work-life balance.
- Strategic Infrastructure: Upcoming projects like the Trivandrum bypass and Metro Rail extension link suburban pockets to economic hubs.
Changing Real Estate Trends
- Adaptation of New Segments: Developers now focus on "smart villas" with tech-integrated features and ideally located working clusters integrating shops, cafes and office spaces.
- NRI-Focused Services: Realtors offer cross-country mortgage advisory and hands-off property management to appeal to ex-patriate buyers.
"Thiruvananthapuram’s zero traffic stress and green atmosphere make it irresistible to professionals seeking holistic lifestyles," says SN Raghuchandran Nair, TCCI President.
As Kerala’s digital infrastructure expands and port development progresses, the city is cementing its position as South India’s next big urban story, with real estate leading its transformation.