Goa's real estate market has grown significantly in recent years, owing to factors like as tourism, infrastructural development, and growing demand for luxury houses.
Key Factors Driving The Boom
Tourism and Lifestyle Appeal: Goa's reputation as a top tourist destination has drawn both local and foreign investors looking for holiday homes and rental properties. The state's strong culture and picturesque surroundings contribute to its attraction.
Infrastructure Developments: The opening of the Manohar International Airport in North Goa has increased connectivity, making the region more accessible and driving up property demand.
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High Rental Yields: Goa has good rental yields, with gated villas in prominent areas fetching 5-8%.
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Market Trends and Insights
Price Appreciation: In the last three years, regions like Siolim, Candolim, and Mapusa have seen property prices increase by 141.3%, 70.4%, and 58.7% respectively.
Demand for Luxury Properties: There's a growing interest in high-end properties, including beachfront villas and upscale condominiums, catering to affluent buyers and NRIs.
Shift in Buyer Demographics: Young professionals are increasingly investing in villa properties due to their potential for attractive rental yields.
