Source: Incredible Goa (https://bit.ly/3SDRAPc)

The already high demand for second homes in Goa is growing even more. Especially in the luxury segment the demand for homes ranging from Rs 1 crore to Rs 3 crore price band has been on the rise.

The data is based on on-ground property dealings and online queries. All the gathered data indicates that most of the demand for premium housing is created by investors from Mumbai and Bengaluru while investors from Delhi focus on commercial real estate. Goa has become a sought-after destination for second homes and luxury living thanks to its tourism. Places like Assagao, Anjuna, Porvorim, and Siolim are in high demand for luxury housing and real estate, revealed the online search trends compiled by the property research firm.

The research has also revealed that prices in Assagoa are comparable with Gurugram’s golf course extension locality. Realty analysts are of the opinion that online search trends are an indication of the high demand for villas in the Rs 1 crore plus price range. The research also suggested that there is a general decline in demand for housing priced less than 50 lakhs. Goa’s real estate is doing comparatively better than the rest of the states when it comes to markets for second homes.

The real estate market in Goa is seeing an upward spurt of growth in demand for luxury housing and real estate. Driven by its coastal beauty and rich cultural heritage, even a number of celebrities have made Goa their second home. The rise in demand for second homes, especially in the luxury segment priced upwards of Rs 1 crore is a good thing for the Goan real estate market.