The coastal state of Goa is one of the biggest tourist attractions, offering a cohort of options to discerning tourists. From picturesque turquoise blue water sea beaches to idyllic Konkan environs, Goa is a tourist paradise. Its frenzy parties, welcoming social life, and wide array of food options are in sync with every type of tourists from adventure-seeking millennials to more matured corporate clienteles to multifamily get togethers.
Meanwhile the beautiful coastal state and its nearby regions on its North are also transforming into a high value second home & property market destination, as per a report by Axon Developers. India’s wealthy and affluent are competing to own premium properties in Goa as part of their lifestyle upgrade. It is fuelling demand for luxury villas, condominiums, serviced apartments, second homes, etc.
The well-heeled comprising of c-suite executives, self-made millionaire business men, creative mavens, and family business scions are keeping no stone unturned to own a piece of premium property in the Konkan state.
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“In addition to a status symbol, investing properties in Goa also makes acute investment sense. Many are shunning mainstay hotels and now prefer staying in rental villas and second homes. This is unlocking streams of constant rental income. In fact, as per our research, by investing in the sweet spot of Rs 2-3 crore, one can easily make close to 6-8% of rental yield. Similarly, property price appreciation is also in the range of 30-45% in the last 12 months,” said Ankit Kansal, MD Axon Developers.
As per the Axon Report, one of the key real estate destinations in Goa is Vagator. The North Goan neighbourhood strength lies in its quant Portuguese neighbourhoods, famous restaurants & hotels, and proximity to the popular sea beaches. Average property prices in Vagator is pegged at Rs 24,100/ sq. ft, rising by around 76% in the past three years. The supply lines in Vagator comprise of independent houses, villas, bungalows, etc. available in the price range of Rs 5-35 crore.
On the other side of Vagator, Morjim is emerging as a sought-after destination, with premium villas & gated apartments. Morjim, which is separated by Vagator by a bay, is well-known for cafes, shacks, electrifying night lives,
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