Costs of the apartments in the city vary with the amenities and facilities available in them. Builders classify them as premium and luxury type, in which the former costs comparatively lesser. Location of these apartments also influences their price to a great extent. Those located near the IT parks and multinational companies are in high demand and so are priced rather higher. Similar is the case with those situated in the tourist locations. Since Cochin is a city where one can find the aesthetic beaches as well as historic monuments, people compete to own an apartment in such locations. Furthermore, apartments in Cochin have become more than a residence. Many people own these apartments with investment prospects. Real estate in a city like Cochin, which is heading towards attaining a metropolitan status, promises great profits for the investors.