Source: Fortune India ( https://bit.ly/43GEdEC )

Goa is emerging as a hot spot for real estate investment, with residential property prices skyrocketing by 66.3% year-on-year, according to Magicbricks, a prominent online real estate platform. This surge is cementing Goa’s reputation as a go-to destination for vacation homes, retirement properties, and long-term rental investments.

While property prices have surged, Goa’s residential prices remain competitive compared to major Tier 1 cities like Delhi (₹18,618 per sq ft) and Mumbai (₹28,921 per sq ft). With an average residential price of ₹13,290 per sq ft, the state offers a lucrative opportunity for both homeowners and investors.

Demand Surges Despite Limited Supply

Residential demand in Goa has increased by 9.43%, even as supply dipped by 9.87% over the past year. This has led to heightened competition in key micro-markets, making quality housing more sought after.

Goa’s real estate market is also gaining traction among high-net-worth individuals (HNIs) and non-resident Indians (NRIs). Villas are currently priced at ₹19,400 per sq ft, while independent homes are more affordable at INR 10,800 per sq ft, catering to various buyer preferences.

The Growing Middle-Class Segment

Residential supply in Porvorim (35.3%), Candolim (52.2%), and Caranzalem (63.8%) is concentrated in the ₹1–2 crore price range, while Dabolim (52.5%) and Vasco Da Gama (65.2%) cater predominantly to the ₹50 lakh to ₹1 crore market, reflecting a strong growth potential in the middle-income segment.

As Goa continues to attract attention for its growing residential appeal, its real estate market remains a high-yield, high-demand area in the West Indian property landscape.