Goa: Symphony of the Waves
The human mind has always craved for peace and tranquillity since times immemorial. This craving makes people explore myriad locations and seek repose.
Goa’s enchanting shoreline has over the past two decades emerged as the go-to retreat for those who wish to seek spiritualistic solace by embracing nature’s idiosyncrasies.
Goa: The Nerve Centre For Real Estate Developers
The Goan Real Estate Market has bloomed in the last 20 years and a favourable environment is being created by the government authorities as well as positive word-of-mouth is being spread by the revellers who have soaked in Goa’s famed ethos of the Sun, Sand & Sea.
Goa is poised to retain its status as the most sought-after holiday destination both within India as well as internationally for years to come.
Goa is now also the most-preferred destination for purchase of real estate due to the fact that this tiny state presents a cornucopia of options such as apartments, penthouses, Villas, commercial properties and office spaces for those who are willing to invest their finances in Goa’s real estate market.
Here are a few reasons why Goa has emerged as the hotspot for real estate developers in the past couple of decades.
- Bulging Demand For Vacation & Second Homes: The most striking aspect of Goa is that people want to keep coming back to this coastal arcadia. The mesmerizing waterfronts, the warm & friendly local populace, the abundant greenery, the mouth-watering seafood delicacies and infrastructure development are some of the factors which make people purchase their dream home in Goa and settle down permanently.
- There is a large diaspora of High Net-worth Individuals living in the metropolitan cities of India and these affluent people prefer to invest their capital in Goa’s real estate market since it fetches rich dividends in terms of return on investment and a lifestyle full of serenity and contentment.
- Expat Indians is a growing market for Goan Real Estate because NRIs have always nourished a dream of coming back to their motherland someday and Goa turns out to be their most-preferred choice to purchase a home.
- High Rental & ROI Potential: Goa takes pride in the fact that it is an international tourist destination. There is an influx of domestic as well as outstation tourists all year around, leading to demand for holiday accommodations.
- Purchasing a property in Goa for investment purposes means raking in passive returns through rental income and appreciation in price.
- During peak seasons there is a shortage of affordable stays for tourists. All major and resorts are mostly booked in advance. This leads to acute shortage of accommodation for holidayers.
- Property owners can put up their units for short-term rentals and AirBnB to gain leverage from the bustling Goan Real Estate Market.
- Infrastructure Development & Growth: The Union Government of India in the past 10 years has been catering to Goa’s every whim and fancy. Goa has witnessed seminal infrastructure development and growth in recent times. The new and renovated International Airport at Dabolim, cable-stayed bridges at Cortalim and Panaji as well as numerous other architectural wonders stand as an affirmation of the infrastructure development in Goa.
- During the 20th century, Goa was entirely dependent on tourism for its revenue and there was not much industrial development apart from shipping. However, the advent of the 21st century saw the introduction of new industrial estates in Goa and major profitable sectors such as Pharma, BFSI, Manufacturing and Telecom have set foot in Goa.
- This industrial revolution provided ample career opportunities to local Goans as well as there was migration of people from other states to seek employment.
- Goods and raw materials need to be transported from the supplier to the factory premises and also from the producer to the end-user. It was necessary to build infrastructure in order to accommodate these industries and the burgeoning populace. Thus infrastructure development was being done in Goa at the start of the 21st century and has been a boon for this coastal state.
- RISE OF SUSTAINABLE & LUXURY DEVELOPMENTS:
- High Net-worth Individuals from metropolitan cities have always nurtured a desire to own a high-end beachfront property here due to Goa’s unique charm and appeal.
- Goa’s laidback lifestyle and natural surroundings attract many a property buyers from other states of India who consider buying a property in Goa as a status symbol.
- The construction sector in Goa is inclined towards sustainable development. Builders are implementing environment-friendly construction techniques, materials and practices. This means development is being carried out in Goa without compromising the health & wellness of future generations.
- Luxurious living has taken an entire new dimension in Goa with developers endowing buyers with not just a home but also a lifestyle with swimming pool, fitness centres and scores of other amenities that exude opulence.
Conclusion: Goa’s real estate boom is driven by high rental demand, strong appreciation, and a growing luxury market. Infrastructure development, investment-friendly policies, and a relaxed lifestyle have been like icing on the cake.
A combination of these factors have transformed Goa into a hotspot for real estate developers and investors. 🌴🏡💰
