Kerala has experienced an increase in the number of vacant homes in recent years, which has contributed to the problem. This has sparked worries about the potential effects it may have on the state’s housing market, economy, and social well-being.
Factors Contributing to the Rise in Vacant Homes:
The number of vacant homes in Kerala has increased for a variety of reasons. The rising trend of rural-to-urban migration is one of the primary causes. In search of better employment opportunities, people are leaving their homes in rural areas and relocating to urban areas.
The rise in Non-Resident Indians (NRIs) who own homes in Kerala but don’t regularly use them is another factor contributing to the increase in vacant homes. Many NRIs only use their homes during the summer months, leaving them empty the rest of the year.
Impact on the Economy:
The state’s economy may suffer as a result of Kerala’s growing number of vacant homes. With so many vacant homes on the market, there might be less of a market for real estate, which would result in lower property values. This might then result in less money coming in from taxes and other fees for the government.
Influence on the Housing Market:
The state’s housing market could suffer as a result of the rise in vacant homes. A decrease in the number of homes available for rent or purchase could result from an increase in the number of vacant properties. A lack of affordable housing could result from this, making it challenging for people to find suitable residences.
Having an impact on social wellbeing.
Additionally, the increase in vacant homes may have an effect on social wellbeing. Due to the large number of vacant homes, there may be an increase in theft, break-ins, and vandalism. Vacant homes are less likely to have residents living in them, which lowers the neighborhood’s overall sense of safety and security and could also result in a decline in the sense of community.
Solutions:, Kerala’s problem with empty homes can be solved in a number of ways. Encouragement of property owners to rent out their homes is one of the best solutions. This could be accomplished by providing tax breaks or financial assistance to property owners who decide to rent out their vacant homes.
Another option is to raise public awareness of the problem of vacant homes and the potential harm it could do to the economy and society. The government could start public awareness campaigns highlighting the value of renting out vacant properties and the advantages it might have for the neighborhood.
Let’s sum up by saying that Kerala’s problem with empty homes is a serious one that requires immediate attention. The state’s economy, housing market, and social well-being may all suffer as a result of the increase in vacant homes. It is necessary to take action to encourage home owners to rent out their properties and to raise public awareness of the problem. By doing this, we can make sure that vacant homes are properly utilized and that everyone in the neighborhood benefits.