The Promising Real Estate Of Goa!

By Author: Gaurav Verma
Total Articles: 15
Comment this article

Goa is unquestionably India’s most popular beach destinations and tourism delight, whose immaculate beaches and comfy hotels can be compared easily with those in Phuket and Bali. But it's the unique Portuguese finesse that endears the city to its countless visitors. Imagine blue seas, green palms and white sand in the south-western fringes of India and you know its Goa. As per industry experts, this growing development in the fortunes of real estate Goa in reality began in the 90s when a slew of NRIs from Goa went back to their native land in the wake of the Gulf War. Off lately, with Goa being the selected venue for the Film Festivals of India, the prices of property have amplified by approximately 30% in the last few years. Another reason that has contributed largely to the growing popularity of properties in Goa among consumers and investors equally is its brilliant connectivity with the main cities of the country like Pune, Mumbai, Hyderabad, Chennai, Delhi, Bangalore and Ahmedabad by road, air and rail.

Residential outlook of the city:

The city is fast rising as a leading ...
... destination for people looking to buy a second house or thinking of making sound investments in the real estate of Goa. With having very less to present in terms of industrial and retail growth, it’s the residential property in Goa that is enticing buyers including foreigners and NRIs who have grown to like the city for its carefree lifestyle, pleasant climate and pristine beaches. It’s a rising development that has been mainly facilitated by the actuality that NRIs can now make investments in the real estate of India. Additionally, no authorization is necessary by them to buy permanent property in the country as NRIs who are originally from India have been given complete consent by the RBI to buy permanent properties in the India.

North Goa: The hotspot of the city:

It’s mostly the north part of the city with its famous beaches like Calangute, Baga, and Candolim complemented by numerous entertainments, shopping and dining options that make it the preferred destination for buying properties in Goa. It’s particularly popular amongst the younger lot NRIs and international buyers who prefer living near the happening parts of the city. In fact the boom in the Goa tourism began first in the north in the 70s. Demand for real estate in southern Goa began picking up a lot later after top hotels like the Taj Exotica and Leela’s opened up. The north is better urbanized and provides improved amenities to people visiting the city. People can explore a lot of outdoor activities in the north in comparison to South which makes it a far more striking option. Not shockingly then, prices of properties in Goa especially in the north in areas like Calangute and Sinquerim have skyrocketed. Even the value of the projects that are being launched and the range of facilities that are being provided have improved. Earlier, villas were pretty usual, but today majority of them are located strategically, close to the beaches with the complete facilities of a resort.

While the north mainly caters to the younger generation, the South has found its personal niche amongst the more mature buyers who are fascinated by its serene surroundings and lower rates of real estate in Goa. The common profile of buyers looking to buy properties in southern Goa are people who are retired or looking at spending a peaceful life.