As India’s real estate sector keeps up with evolving tastes, Goa is rapidly asserting itself as a premier destination for high-net-worth citizens. The market is emerging to offer everything from eco-conscious holiday homes to gated communities. This shift points to an evolving market where quality, lifestyle, and long-term value are key drivers.
India’s affluent class has been increasingly redirecting their investment focus towards residential real estate for some time, marking a notable change in the country’s investment landscape. This transition emphasizes changing trends in investment preferences and reflects the motivations driving the elite’s choice to invest in residential properties.
Home prices in India are likely to increase by 4-6 per cent this year but rising per capita income will support demand. Moderating inflation, stable commodity prices, a lower fiscal deficit, and a decline in global policy rates would set the stage for interest rate cuts to boost housing demand.
The inauguration of the new International Airport at Mopa, Goa also led to an increase in tourism, thus impacting the demand for vacation rental homes, hotels, and stay options in Goa. Capital values in surrounding areas have thus doubled in the last three years.
At least 35% of holiday home buyers mentioned Goa as their preferred destination, highlighting the enduring appeal of Goa’s lifestyle among India’s wealthy.
The residential sector exhibits substantial growth potential, underscored by sustained demand over the past few years, complemented by consistently stable interest rates and robust GDP expansion. Notably, there is a pronounced demand for mid- and high-priced residential properties.
Goa’s housing trends seamlessly blend sustainable living, luxury retreats and community-centric living, showcasing the state’s remarkable capacity to embrace modernity without compromising its cultural legacy.
With the country expected to urbanise at a rate of around 36 percent this year and 50 percent by 2050, the focus will shift to tier-2 towns.
Goa has emerged as a preferred destination for second home buyers owing to high rental yields ranging from 4-10% approximately.
Goa has been emerging as an attractive destination for investments in 2023. With significant investments in improving its infrastructure, including the construction of new highways, bridges, and airports. This has made it easier for tourists and investors to travel to and within Goa, potentially increasing demand for state-owned properties. Purchasing a property in Goa can provide not only rental income but also the opportunity to enjoy a vacation home or retire in a peaceful and picturesque setting.