Why is North Goa a better investment proposition compared to the South?
The key reasons for more investments happening in the northern territory of Goa are because of the excellent tourism and commercial activities taking place there. North Goa is a diverse investment destination because of the lifestyle value it holds for many home buyers. It is an attractive place to invest and reside because it offers its owners a cosmopolitan lifestyle experience. This is why the northern beaches and suburbs of Panaji make for a sound investment decision. Builders also introduce fewer projects in South Goa for the same reason. Considering that the profile of investors in Goa includes both Goans and non-Goans, they expect a certain commercial and lifestyle value to their place of residence. Additionally North Goa is well connected and has better access to the entertainment centres in the state.
Which areas in Goa offer high-end luxury properties?
Goa has a growing luxury real estate market. It has been a favourite of celebrities and industrialists from all over the country. Few localities have stood out as hubs for luxury realty market in the state. In the northern territories of Goa, localities along Calangute, Arpora & Anjuna have a number of luxury projects costing a minimum of INR 1 crore and above. Dona Paula has emerged as a preferred locality for many Goans today. Some luxury projects in Dona Paula can cost upto INR 3 crores and above. With rising land prices, developers in the luxury segment are also demanding high price for their projects. This has resulted in the recent slowdown in the absorption of luxury projects in the state.
Is Goa a good retirement destination?
Goa has emerged as an ideal destination for senior citizen friendly projects in the recent past. Retirement colonies are a rage in localities like Siridao near Bambolim and Nachinola near Mapusa. Builders have customised luxury villas or apartments with assisted living services for senior citizens. If you are planning to retire in a scenic location with all the amenities and facilities that you might need, consider looking for retirement villages in Goa. Other localities like Taleigao, Calangute, Pilerne and Dona Paula have also been on the realty radar for the development of large scale retirement villas.
What are the different real estate options I can invest in Goa?
Goa is probably one of the most diverse real estate markets in the country. With the real estate market becoming enormous in certain parts of the state, the locals have also seen their income levels rise. Considering Goa is an attractive investment option for people around the country, one can see the market offers different kinds of projects to suit the needs of the growing market. Flats, villas, holiday homes, retirement homes, serviced apartments and studio apartments are the different kinds of real estate projects you can invest in. Demand for serviced apartments and studio apartments have increased over the years as it doubles up as a source of steady income for investors. It also offers affordable housing projects and ultra-luxury projects to suit one’s needs and preferences.
Why should one consider investing in Goa?
Goa’s premium property market offers the highest rentals and the best resale values. A well-located, sea facing property in Goa can fetch as much as INR 1.5 lakh per month as rent. Similarly capital values of property have seen close to 15% to 20% price appreciation per annum. Certain localities like Dona Paula and Calangute have seen close to a 50 % price appreciation. This has created a stronghold for the resale property market in the state. Not only premium but affordable and mid segment flats and villas serve as a good investment option as the market has seen good overall appreciation in the year 2014-2015. Currently (Jan-Mar 2015) there are around 400 new projects coming up in different parts of the Goa. One should strongly consider investing in a property in the growing Goa real estate market. Calangute, Dona Paula, Colva, Vagator, Vasco and Anjuna have been some of the most popular investment zones among Goans and NRIs. Anjuna, Candolim, and Calangute remain the top beach destinations to invest in.
Anupriya Dharma for IndiaProperty.com
Image: ”India – Goa – 010 – Touristy Baga Beach” by McKay Savage – Flickr. Licensed under CC BY 2.0 via Wikimedia Commons – http://commons.wikimedia.org/wiki/File:India_-_Goa_-_010_-_Touristy_Baga_Beach.jpg#/media/File:India_-_Goa_-_010_-_Touristy_Baga_Beach.jpg