Goa's real estate sector has undergone a significant transformation and revolution in the past two decades (2000-2020). There has been a sudden surge in the demand for premium properties for residential and investment purposes during this period. Several factors have contributed to this evolution, reshaping the real estate landscape in the state:
- Tourism and Second Homes: Goa's enduring appeal as a tourist destination led to a surge in demand for second homes and vacation properties. Many individuals and investors from India and abroad have purchased properties in Goa for holiday retreats, leading to the development of luxury villas, penthouses and serviced apartments.
Poetree Homes has forayed into this burgeoning real estate sector of Goa by constructing properties that are an exemplary option for second home or for investment purposes.
- Infrastructure Development: Goa has witnessed notable improvements in infrastructure, including better roads, airports, and connectivity. These developments have made the state more accessible and appealing for real estate investments.
Properties by Poetree Homes have excellent road connectivity and are located in close vicinity of transport hubs such as Airport and Railway Terminus.
- Expanding Cities: The urban areas in Goa have experienced expansion and modernization. Cities like Panaji, Margao, and Mapusa have seen increased demand for residential and commercial spaces, as well as the development of shopping centers and entertainment hubs.
83 Ocean Crest is the flagship residential project of Poetree Homes and is located in the fast-growing city of Dabolim. This picturesque town of Dabolim is now the centre of all activity and has emerged as a major residential, commercial and transportation hub due to its strategic location and infrastructural development.
- Foreign Investment: The liberalization of Indian real estate regulations has made it easier for non-resident Indians (NRIs) and foreigners to invest in property in Goa. This has led to an influx of foreign investment in the real estate sector.
- Cultural Preservation: Goa's unique culture and heritage have been preserved and incorporated into many new developments. There is a conscious effort to maintain the traditional charm while integrating modern amenities.
- Luxury Real Estate: The demand for luxury real estate has surged, with developers focusing on high-end properties, beachfront villas, and gated communities. Goa has become a sought-after destination for luxury living.
Properties by Poetree Homes are designed for those buyers who are looking for luxury and premium residences. Home buyers at Poetree Homes can incorporate various luxury elements in their properties by consulting top interior designers and convert their property into a swanky abode.
- Sustainability and Eco-friendly Projects: There is an increasing emphasis on sustainable and eco-friendly construction. Developers are incorporating green building practices, renewable energy, and environmentally conscious designs.
- Co-living and Co-working Spaces: The rise of the gig economy and remote work has spurred the development of co-living and co-working spaces, attracting digital nomads and entrepreneurs to Goa.
- Legal and Regulatory Changes: Regulatory reforms, such as the implementation of the Real Estate (Regulation and Development) Act (RERA), have increased transparency and buyer protection in the real estate sector.
- Short-term Rentals: The popularity of platforms like Airbnb has made short-term rentals a lucrative option for property owners. Many real estate investors are capitalizing on this trend. Properties by Poetree Homes are an ideal bet for return on investment through rental earnings.
- Tourist Rental Income: Properties near tourist hotspots often generate substantial rental income, driving interest in the real estate market among investors looking to tap into Goa's thriving tourism sector. Poetree Homes also scores on this front since its projects are located close to tourist hotspots making it an ideal investment option fo cater to the tourism sector
- Collaboration and Mixed-Use Developments: Real estate developers are increasingly focusing on mixed-use developments that combine residential, commercial, and leisure spaces. These projects provide a holistic living experience.
- Rise of Proptech: Technology has made its mark on the real estate sector in Goa, with the adoption of property technology (proptech) solutions for property search, transactions, and management.
Poetree Homes makes extensive use of technology to market its projects and we utilize digital platforms to promote our projects and to get a wider reach in comparison to offline channels.
Conclusion: Goa's real estate sector has experienced a notable revolution over the past two decades, driven by evolving tourism trends, infrastructure development, and changing investment opportunities. It has transitioned from being primarily a vacation home market to a diversified and dynamic real estate landscape that caters to a wide range of residents and investors. Goa continues to be an attractive destination for real estate investments, whether for lifestyle, tourism, or long-term growth potential.
