Goa real estate market is happening. The new phase of real estate development in the city has encouraged a multitude of investors to put in large sums of money. According to experts, the prospects of real estate investment in Goa are quite bright.
The strategic location of Goa and the availability of land attract real estate developers to venture into the city. Rising levels of interest from the investors is one of the reasons why prominent builders to explore Goa properties. The distant dream of having an apartment on Goa's beachside or an exclusive bungalow featuring top-notch facilities or a 300-year-old villa with picturesque beauty is no longer a dream. Quite a number of properties are available on sale these days, a Goa-based property broker informed.
Ongoing trends
Goa is becoming next popular destination for investment for developers, NRI's and individuals. Goa's unique history, rich culture and scenic beauty makes it conducive for living. Majority of demand can be seen from northern states as these states are deprived of ocean and beaches. These people want to spend their leisure time for a month or less in a year in Goa and for the same they want their own homes.
North Goa is the most popular region in terms of property transactions and witnesses higher volumes as compared to South Goa. Real estate residential and commercial values are also high at North Goa. A number of residential and commercial projects are hitting the city. Leading real estate developers such as Parsvnath is coming up with the residential township project in the city which has further escalated the Goa real estate market.
Property values
The residential value of an apartment varies from Rs 3,500 per sq mtr to Rs 5,000 per sq mtr and the plot value starts from Rs 1 lakh per sq ft onwards at the prime locations.
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