Goa (India), November 8: According to international real estate consultant Savills, Goa has become a favourite location for people looking to purchase a second home because of its high rental yields. The report also adds that this rental yield ranges from 4 to 10%. Goa is known for its pristine beaches, party vibe, nightlife, local markets and food.
While many are drawn to Goa for these reasons, there are others who are now flocking to the state seeking tranquillity and peace. The villages of Goasuch as Assagao, Siolim, Saligao, and the river islands like Diwar and Chandor offer plenty of choices for these homebuyers.
Aditya Kushwaha, CEO and Director of Axis Ecorp, says, “Goa’s real estate market has been on a fast track in the post-pandemic phase. The state’s rich culture, beaches, architecture and natural beauty make it a top choice for buyers looking for a second home. Holiday homes and villas have been one of the major drivers for this growth momentum. The recent work-from-anywhere scenario has further increased the popularity of Goa as a realty destination. A fresh spike in real estate prices is expected shortly as the Goa International airport is nearing completion.”
Shveta Jain, managing director of Residential Services, Savills India, says, “Goa has piqued the homebuyers’ interest even before the pandemic. Goa’s serene charm has attracted many investors looking to buy second homes or holiday homes as they generate good rentals.”
There are several belts in Goa that have witnessed a surge in demand. North Goa’s coastal belt spanning Candolim to Vagator continues to be a hot favourite amongst homebuyers.
The Porvorim, Parra, Assagaon, Saligao, Anjuna, and Siolim districts have seen an increase in demand for independent residences and rented villas in gated communities, according to the report. Depending on the size of the room and the number of villas, the costs per night range from Rs 15,000 to Rs 100,000.
Industrialists, Business honchos and new-age entrepreneurs have been eyeing the high-end luxury properties and villas in the region. Apart from this, there is also increased interest from the NRI community. The upcoming International MOPA airport is also adding to Goa’s charm.
The nearby areas are also experiencing the ripple effect of the current boom and infrastructure development. Sindhudurg, situated on the Maharashtra-Goa border, has also been experiencing a spurt in demand. The rental yields in this region have appreciated in the last few months.
“Not just Goa, the prices in the nearby areas are also soaring. Sindhudurg has also emerged as a sought-after second home and nature resort destination. The average property prices in the past four years in Sindhudurg have grown at a CAGR of 6.8%, and it is expected to increase by 25-30% once the airport gets operational,” adds Kushwaha.
Axis Ecorp is betting big on Sindhudurg and has several big-ticket projects in the region, including Axis Blues, Axis Yog Villas and Axis Lake City. The company is also planning to launch new projects in the area soon.
People’s need for quality air, water, food, and proximity to a cross-cultural environment has driven them towards Goa and Sindhudurg. Real estate developers are also capitalising on the growing market. The asking price for a villa in gated communities ranges from Rs 3 crore to Rs 12 crore. The rate varies based on the plot size, amenities offered and the number of rooms.
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
This blog is definitely rather handy since I’m at the moment creating an internet floral website – although I am only starting out therefore it’s really fairly small, nothing like this site. Can link to a few of the posts here as they are quite. Thanks much. Zoey Olsen
Thank you for the good writeup. It in fact was a amusement account it. Look advanced to more added agreeable from you! By the way, how can we communicate?
Its fantastic as your other posts : D, thanks for putting up.
I was just looking for this information for some time. After six hours of continuous Googleing, finally I got it in your website. I wonder what’s the lack of Google strategy that do not rank this kind of informative websites in top of the list. Usually the top sites are full of garbage.
An interesting discussion is worth comment. I think that you should write more on this topic, it might not be a taboo subject but generally people are not enough to speak on such topics. To the next. Cheers
Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!
Very interesting information!Perfect just what I was searching for!
I know this if off topic but I’m looking into starting my own weblog and was wondering what all is needed to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web smart so I’m not 100 certain. Any recommendations or advice would be greatly appreciated. Thank you
Nice post. I used to be checking constantly this weblog and I’m inspired! Very useful info specially the final section 🙂 I handle such info much. I was looking for this certain info for a long time. Thanks and good luck.
Very interesting details you have observed, regards for putting up.
What i don’t understood is actually how you’re no longer actually a lot more well-appreciated than you may be now. You’re so intelligent. You recognize therefore considerably in the case of this topic, produced me personally believe it from a lot of various angles. Its like women and men aren’t fascinated unless it’s one thing to accomplish with Girl gaga! Your own stuffs outstanding. All the time deal with it up!