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.
Planning to buy a second home in Goa, especially now that the new airport in Mopa is operational? To start with, a prospective homebuyer should know that the Land of Beaches has emerged as a preferred choice among buyers of second homes on account of the high rental yields it offers. These typically range from 4 percent to as high as 15 percent for luxury sea-facing properties.
Real estate industry expects housing demand to remain strong with the RBI keeping key interest rate unchanged and is hopeful for a repo rate cut in next round of monetary policy to boost growth. This will help the housing sector that has been performing well from the past two years.
The high quality of life and standard of living in Goa is one of the primary reasons why so many people are choosing to purchase property there. Goa offers residents a tranquil and unhurried environment, making it an ideal place to relax and let go of stress.