Real Estate- North Goa Outperforms South Goa

By: George Gonigal

Property markets of North Goa are much active than those of South Goa, despite the fact that South Goa is more affordable as compared to North Goa and so one can get better bargains here. This is primarily because of the reason that South Goa is known for its picturesque locales and is comparatively less happening in terms of night life and also new real estate developments, which are mostly coming up in north Goa, especially the capital city of Panjim.

Today Goa has been attracting buyers from every section of society, with different budgets and has its platter full on supply side to cater to the needs and requirements of all sorts of buyers and investors. Also, make an attractive proposition with two per cent of stamp duty charges on registration.

Since the property transactions in Goa are taking place more with the outside/foreign buyers who buy a house as a holiday home and then rent it out to someone for the period during which they are not holidaying, the rental market is very active.

Buyer profile: People do buy home but the buyers are mostly high-net worth individuals (HNI), local people who are residing for very long in Goa are the ones who have their own houses, new buying transactions with local people are not much but local rental transactions are quite active. Goa property is quite affordable since property tax and stamp duty is lower than in other states.

North Goa is home to the capital city Panjim. Other localities include Mapusa, Ponda, Pernem, Anjuna, Arpora, Assagaon, Calangute, Condolim, Dona Paula, Merces, Peddem, Porvorim, Siolim, Miramar and Old Goa. Margao is the headquarters of South Goa and comprises localities of Bogmalo, Carmona, Colva, Benaulim and Majorda.

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