The North Goa region is on the brink of a construction boom, with a surge of development activity taking place near the Manohar International Airport (MIA), an area that has traditionally lagged behind socio-economically. This previously overlooked zone is now bustling with a multitude of development ventures. In addition to the contemporary amenities housed within the airport premises, there are ambitious mega projects valued at Rs 2,300 crore on the horizon.
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 demand for second homes in Goa, particularly in the luxury segment, is growing with most of the demand focusing on the Rs 1 crore to Rs 3 crore price band, shows research by a property research firm.
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.
The demand for luxurious residences that offer a unique living experience has been growing in the Indian market over the last few years. An increased number of high-net-worth individuals, rapid urbanisation, and rising incomes are just some of the factors contributing to that growth.
Something’s coming over India’s real estate market. Especially in the high-end segment, change is in the offing, after nearly a decade of slow or stagnant growth. Among others, one of the most interesting trends to have popped up and is going strong is the demand for holiday homes.
Even after a rise in property prices and home loan rates, buyers from across segments are investing in real estate. Home loan demand was robust in 2022 and seems to have increased in the months following the rate hikes.
Experts said the surge in demand for luxury housing is an indication of people looking for a lifestyle that mirrors their achievements and ambitions, it is also coming close on the heels of a Budget 2023 provision that will be implemented from April 1.
India’s residential market has witnessed recovery this fiscal on pent-up demand with increase in housing sales despite impediments like rising interest rates on home loans and appreciation in property prices.
Goa is a peaceful place and it is even more fascinating to one who explores this place beyond beaches. If you are thinking of investing in Real Estate in Goa, here are some top areas to invest in.