At least 35% of holiday home buyers mentioned Goa as their preferred destination, highlighting the enduring appeal of Goa’s lifestyle among India’s wealthy.
Goa’s real estate allure extends beyond its picturesque landscapes; it encompasses a lifestyle and cultural experience that investors find irresistible. As the tourism sector continues to grow, investors see the potential for robust returns on their real estate investments, especially in areas frequented by tourists.
Retail investors, particularly the younger demographic, now have various avenues to invest in real estate without depleting their financial resources, enabling them to earn passive income at an early stage.
The real estate sector in India has experienced remarkable growth in 2023 and industry experts anticipate the homebuying sentiment witnessed in 2023 to persist in 2024 also.
Goa remains the most preferred destination for a holiday home, as about 35 percent of wealthy individuals chose to buy a holiday home in the state. The sunny beaches, hills, and lifestyle of Goa are the most significant appeal for individuals, but the return on the investments in holiday homes is also attracting investors and individuals.
The residential sector exhibits substantial growth potential, underscored by sustained demand over the past few years, complemented by consistently stable interest rates and robust GDP expansion. Notably, there is a pronounced demand for mid- and high-priced residential properties.
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 real estate boom in India seems to be a sweet spot for NRI investments. More NRIs are purchasing houses in India. The growth in NRI residential sales, which has risen from 11% to 15%, in a matter of months, underscores this point.
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.
Goa’s housing trends seamlessly blend sustainable living, luxury retreats and community-centric living, showcasing the state’s remarkable capacity to embrace modernity without compromising its cultural legacy.
