Goa is famous for its picturesque view, beaches and historical architecture and it is now making its presence felt on the map of Indian real estate. The investors are attracted to this state as the tranquil atmosphere here allows a person to relax and rejuvenate. Hence, the NRIs [Non-Resident Indians] and the High Networth Individuals [HNIs] both prefer to make investment in Goa. So, have a look at the reasons that make Goa an upcoming property investment destination in India.
1. Expert Speak
The industry experts feel that the place is less crowded and thus the property prices in Goa are lower compared to various metro cities. These factors and proposed development here make this place one of the best property investment destinations in India. The demand for residential plots and apartments in Goa has increased and thus several reputed developers have multiple upcoming residential projects in Goa. Interestingly, the escalation in property demand has laid to the inception of the State-based realtor/developers.
2. North Goa an Investment Option
This region shares boundaries with Maharashtra’s Sindhudurg district and Belgaum district of the Karnataka state. The beautiful beaches, clear sky, huge number of tourists’ footfall and commercial growth makes North Goa an ideal property investment destination. All these factors ensure better returns on investment like high rental income.
3. Property Trend in North Goa
While considering the demand for residential properties, the developer prefers to build 1BHK and 2 BHK along with independent Villas. The amenities and location decide prices for residential properties here while the proximity of hotels along with its connectivity to various places finalizes the commercial property prices in Goa.
Bambolim in North Goa is witnessing huge development and thus the real estate market here has received a positive response. Apart from this, localities like Panjim and Dona Paula are also experiencing growth in the real estate market. The property prices in these two areas range between Rs.4,949-Rs. 7,848 and Rs. 5,827-Rs. 8,555 respectively.
4. Real Estate and Local Buyers
The investors growing interest in the property market of Goa has become a concern for the local buyers as all this has laid to the price rise of immovable assets. In the census of 2011, the State had recorded 500,000 registered residential properties vacant here. The increasing property prices and coming in of investors not just from the country but also from the NRIs have made the Government plan the construction of affordable homes for the local residents.
Future Market Possibilities
After witnessing a slowdown now the property market of Goa is moving in the upward direction. Hence, putting money here is a wise decision as one can yield a high return on investment in the coming times.