The dream of escaping the chaos of city life, and settling into a peaceful house by the beaches of Goa is one many of us share. But as property prices in Goa soar, this dream feels like it’s slipping further away. Goa is now emerging as a focal point in India’s real estate landscape.
India’s wealthy elite are competing to acquire high-end properties in Goa as a means of enhancing their lifestyle. This trend is driving an increased demand for luxury villas, condominiums, serviced apartments, and second homes.
High net worth individuals are vying to own premium properties in Goa as a part of their lifestyle upgrade. This has fueled demand for luxury villas, condominiums, serviced apartments, second homes etc in the state.
The year 2024 was marked by luxury living. The launches of housing projects worth ₹10 crore to almost ₹80 crore made one thing clear – that demand was skewed towards luxury and ultra-luxury homes and that real estate developers left no stone unturned to launch projects that catered to buyers looking for spacious properties that could accommodate their lifestyle and long-term investment goals.
Goa is seeing a rise in demand for luxury homes among startup founders, business families, and sports personalities post-Covid. The region offers unspoiled environments and serene lifestyles. Real estate developers are investing in high-end properties despite the supply gap. Infrastructure improvements are making Goa an attractive destination for second homes. Wealthy Indians continue to favor Goa for vacation homes.
Goa is emerging as one of the important destinations for the real estate market. Due to its beautiful coastline, low air quality index (AQI), and exceptional rental yields, the state is drawing a new demographic – young professionals looking for both lifestyle and profitable investments.
India’s luxury real estate sector is experiencing a growing demand due to changing consumer preferences and technological advancements. Besides, this overwhelming increase in spacious luxury houses is also attributed to the COVID-19 pandemic because people with high purchasing capacity seek liveable spaces with ample safety and amenity features.
One of the reasons for preferring Goa is higher rental yields compared to other parts of India. Residential yields are highest in Goa. While outside it’s in the range of 2-3%, in Goa, the yield is in the range of 5-6%, almost double.
Investments by non-resident Indians (NRIs) into the Indian real estate market has surged over the past 20 months, growing at 15-20 per cent and their share in total investments in the sector is expected to rise to a fifth from 10-15 per cent earlier. In 2023, NRIs invested over $13 billion in real estate and by 2025, their investments are expected to account for 20 per cent of total real estate investments in India.
The rise of remote work has significantly reshaped the real estate landscape in Goa. Traditionally known as a holiday destination, Goa has now become a preferred location for professionals seeking a blend of work and leisure. The increasing demand for high-end villas and apartments, particularly in scenic areas of North Goa, has led to substantial rental yield growth for investors.