Source: Construction Week Online (https://bit.ly/3LdsFhY )

The demand for vacation homes in India has increased significantly after the pandemic and the need for breaks from the strenuous life of cacophonous cities. Vacation homes is one of the fastest-growing segment in India’s realty market, which was sized at $1.4 billion in 2021, is expected to grow at a CAGR of 23.63% in the next four years and cross $4 billion by 2026. Tourist destinations near beaches, hill stations, and non-metro cities with favourable climates, nature access, and proximity to the sea, countryside, or mountains are preferred places and being the real estate haven, Goa is the first love for connoisseurs investing in vacation homes.

Investors going gaga over Goa

Post-pandemic, the real estate market in Goa experienced a staggering growth momentum due to attractive rental income and long-term appreciation prospects. The market stands out among second-home destinations in India, with a surge in online searches for villas priced between Rs 1-3 crore. However, there has been a decline in demand for properties below Rs.50 lakhs. With growing investor confidence, the market is expected to continue its upward trajectory.

Mopa: A runaway success avenue for NRIs

Goa’s moderate climate, pristine beaches, unique blend of Indian and Portuguese cultures, vibrant festivals, and delectable cuisine have made it a top choice for NRIs seeking secondary residences or investment opportunities in India’s booming real estate market. In addition to Goa’s geographical attractions, the unprecedented infrastructure development in the region offers a myriad of reasons for nature lovers and real estate investors to fulfil their dreams with a peaceful mind. The Manohar International Airport in North Goa is a bastion of seamless connectivity and new development opportunities.

Future is paved with gold

Goa has been witnessing remarkable returns on investment (ROI) in its residential real estate sector. State’s booming tourism industry, combined with a steady influx of tourists and expatriates, has made property investment in Goa lucrative. The potential for high rental yields and capital appreciation has made it an attractive destination for property investors.