Goa, a beautiful coastal state on India’s west coast, has always been a popular tourist destination. But lately, it’s become a hot spot for a different kind of visitor: the luxury home buyer.
Goa’s appeal is now extending beyond holidaymakers and retirees. Real estate developers from across the country are gearing up to launch projects in the popular holiday destination, led by high demand from wealthy individuals and non-resident Indians.
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.
Investing in property can be a powerful way to achieve financial freedom, especially if you’re struggling with debt. By leveraging real estate, you can create income, build equity, and ultimately work towards eliminating your financial burdens.
Second homes are a compelling opportunity in Goa’s luxury real estate market. Not only are they generating attractive rental returns, but there’s also a surge in demand, particularly for gated coastal villas and large apartments with ample bedrooms. This trend is being driven by millennials seeking idyllic getaways and NRIs capitalising on currency advantages.
Due to the host of favourable factors, people from other states and even NRIs living in the developed nations are allured by Goa’s peaceful living conditions and are motivated to own a second home here. That’s why holiday homes are gaining popularity along with ongoing infrastructure development, booming startup culture, and the formation of Special Economic Zones. These factors have boosted industrial growth and investment in the real estate sector.
Investor interest has taken off because of the Rs 4,494.6 crore Manohar International Airport that has come up at Mopa. The new airport has been a game changer, enhancing connectivity and attracting substantial interest from major real estate firms and investors.
Young professionals find the Goa market attractive for property investment; Gated villas in Grade A locations command a rental yield of 5-8%. Buyers for second homes are not only end buyers but retail investors seeking both rental returns and capital appreciation.
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 as 35% of holiday home buyers preferred Goa as a second home destination.
India’s real estate market is witnessing a seismic shift, with the luxury housing segment experiencing an unprecedented surge in demand. Factors such as rising incomes, growing aspirations for upscale living, and a preference for modern amenities have propelled this transformation, resulting in a boom in luxury home sales across the country.
