Goa real estate market will swing in the coming days as the New Year is approaching. This is the festival time in the state and many real estate transactions take place during this period.
Goa will be flooded with tourists from various parts of the world to celebrate Christmas and New Year and this will influence real estate market and property values.
Property consultant Mr. John Reji from Goa property said that most of the tourists want to stay for longer period of time and visit the place again and again so they prefer to buy an apartment or villa in Goa.
Another brokers from Goa added that living in hotels and guest houses is quite expensive and there is always a problem of space. While owning an apartment is a good source of investment as it solves the problem of staying and there is no restriction. Secondly it is a source of income as apartment can be given on rent when vacant to earn money.
Residential Scenario
Number of real estate developers and realtors are investing into Goa real estate market as it is quite promising to yield high returns.
Lot of activity can be seen in North Goa catering to the residential segment of the society. Dona Paula is the most posh locality in Goa and has the highest plot capital values of Rs. 32,000-35,000 per sq. yard and the apartment capital value of Rs. 5,500 - 7,500 per sq.ft.
Panjim capital city of Goa is the second classy locality with residential capital values of Rs 20,000-25,000 per sq. yard and the apartment capital value of Rs. 3,000 - 5,000 per sq.ft.
New upcoming residential projects offers modern apartment to Portuguese villas which attracts most of the foreign investors.
Apartment capital value in Goa ranges from Rs. 1,800 to 7,000 per sq. ft. Stamp duty and property taxes in Goa are lower as compared to other states, making the investment easier on the pocket and attractive.
Goa is becoming one of the most favourable destinations for the foreign buyers to invest and has a long way to go in the coming year as predicted by leading real estate developers.
