VMPL
New Delhi [India], July 1: According to a report by real estate consultancy firm Savills India, second homes in Goa offer a lucrative investment opportunity with rental returns ranging from 5% to 8%. This underscores the region's appeal to investors. The report further highlights the high demand for gated villas along the coast, particularly those between 2,000 and 4,000 square feet.
Another interesting fact highlighted in this report is the significant surge in the capital value of villas in Goa, Grade A villas, for instance, saw a 33% increase in prices, rising from INR 15,667 per square foot in Q2 2022 to INR 20,914 in Q2 2023, and further to INR 25,504 in Q2 2024. Grade B villas also experienced growth, with prices increasing from INR 12,667 per square foot in Q2 2022 to INR 15,001 in Q2 2023, and reaching INR 19,500 in Q2 2024.
Commenting on this trend, Aditya Kushwaha, CEO and Director of Axis Ecorp, stated, "We are really seeing a compelling opportunity in Goa's luxury real estate market. Not only are second homes here generating attractive rental returns, but there's also a surge in demand, particularly for gated coastal villas between 2,000 and 4,000 square feet with ample bedrooms. This trend is being driven by millennials seeking idyllic getaways and NRIs capitalising on currency advantages. In fact, our Axis Yog Villas project in North Goa, conveniently located near the new MOPA airport, has been particularly popular among these demographics,"
Popular locations for Grade A villas include Anjum, Arpora, Baga, Calangute, Candolim, Vagator, Morjim, Assagao, Siolim, Mapusa, Pilerne, Reis Magos, Caranzalem, and Dona Paula. Grade B villas are found in Aldona, Moira, Nachoinola, Panjim, Chapora, Nerul, Mandrem, Parra, Saligao, Verla Canca, Saipem, Guirim, Tivim, Bicholim, Penha de Franca, Sangolda, and Bambolim. These areas are increasingly sought after.
"Goa's real estate market is currently a hotspot for investors seeking high-quality second homes with considerable rental yields. Prospective buyers must look past the obvious and think about how their investments will affect them in the long-run. Focus on locations with potential for future development and properties that promise not only immediate returns but also growth in capital value. With a strategic approach, investors can maximize their benefits in this vibrant market. Goa is more than just a holiday destination; it is an opportunity to make smart investments in a way of life that keeps drawing tourists from all over the world," said Ms. Amrita Gupta, Director of Manglam Group.
Nestled along the pristine shores of the Arabian Sea, Goa has long been celebrated for its pristine beaches, vibrant nightlife, and rich cultural heritage. The landscape, once dotted with quaint Portuguese villas and rustic beach shacks, is now seeing the rapid emergence of exclusive estates and high-end residential projects. The luxury real estate market in Goa is not just growing; it's flourishing, drawing in a select group of affluent buyers and investors from around the world. This burgeoning sector is not just reshaping the Goan skyline and lifestyle, it's offering an exclusive blend of serenity, exclusivity, and sophisticated living.
With Goa emerging as a top choice for holiday homes, the future looks bright for the state's luxury real estate sector. This growth is expected to be further fuelled by increasing NRI interest, which is attracted by favourable currency exchange rates and a desire to own a piece of India's luxurious living experience.
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