Market survey for real estate; Choice estates and constructions

Abstract

This project is the result of a market research done on behalf of Choice Estates and Construction, to study the market for housing market in Kerala. It was done over a period of two months, spread over 4 cities, Trivandrum, Ernakulam, Trichur and Calicut. Customers and competitors were studied and information was gathered from the concerned Governmental authorities. The reasons for the ongoing boom were also studied. The data thus obtained was thoroughly analysed using statistics. Many important and interesting results were arrived at. Many trends, patterns and clusters emerged from this. The details of which comprises this report. It was found that flats are not so preferred by Keralites on the average, - but it is a matter of education. There is a potential market existing in Kerala Two distinct clusters were identified - the ‘yuppies’ and the ‘conventional’. It is the former that should be the target segment for Choice estates division. The details of these clusters can be seen in the body of the report. ‘The ideal floor area and the acceptable price per sq. ft. were cross-_ tabulated against other variables to find how people decide on these crucial factors. The brand recall for Choice estates division was found to be low when compared to SI and Skyline. A pressing’ need for promotions exist to better this situation.