Goa is a popular tourist destination for Indians and foreigners. The sun-kissed sandy beaches, clear blue waters, best restaurants, and the holiday vibe create the atmosphere to unwind and rejuvenate. Tourism is one of the major economic drivers and many high-net-worth individuals already own or aspire to own property in the Emerald State. The government makes special efforts like easy approvals and tax benefits to developers to promote Goa for real estate investment.
In recent times as the appetite for travel is increasing, the demand for accommodations in hotels, resorts, and other property options has reached an all-time high. Owning a property in Goa has become a lucrative investment opportunity. Although Goa is a small state, it provides many options for investment in varied geographies and property types.
Let us look at the best places to invest in Goa:
Kadambu Plateau
Kadamba Plateau is an upmarket locality in North Goa offering premium residences. It is located close to Panjim and other employment hubs. The region has easy access to schools, colleges, malls, hospitals, and other facilities. Reputed developers offer 2 and 3 BHK flats in Kadambu Plateau; the price range of 2 BHK is ₹40 lacs to ₹ 1.2 crores. There is a plethora of under-construction projects in North Goa to choose from.
Siolim
Siolim is a picturesque village in North Goa known for its scenic beauty and tranquil surroundings. It is close to popular beaches like Anjuna, Morjim, Vagator etc. These beaches are popular with tourists as many events take place around. There is a great demand for luxury accommodations in the locality and many luxury properties have come up here. The residential projects in North Goa offer the best facilities and amenities like swimming pools, gymnasiums, and clubhouses to attract potential clients. Investing in Siolim can be a lucrative investment to earn regular rental income.
Mapusa
This rapidly developing locality in North Goa is known for its bustling markets and business centres boosting the development of commercial and residential properties. This once-quiet village is now a hub with easy access to the best social infrastructure like educational institutes, hospitals, colleges, banks, etc. It is ideal for residential home buyers as it is easily accessible by public transport. Investing in Mapusa can promise good appreciation and rental yields in the coming years.
Ponda
If one is looking at investing in land or farmhouses then a tranquil location like Ponda in South Goa can be an ideal choice. Purchasing a farmhouse in Ponda allows one to own property away from the hustle and bustle of the city. The greenery and natural beauty of Ponda present a good opportunity to develop it into an ideal eco-tourism spot for tourists craving for an authentic rural experience. The property rates are comparatively lower than those in the urban regions of North Goa.
Porvorim
Porvorim is a residential area in North Goa known for its serene surroundings and peaceful life. In the past few years, Porvorim has emerged as a hub for co-living spaces due to the demand created by young professionals and students. Co-living spaces offer unique experiences to share and connect common areas of the accommodations. Investing in co-living spaces is a good way to earn good returns on investments in rentals as the maintenance cost is lower compared to conventional rental properties.
These are some of the options one can consider for investment in Goa. It is a good idea to make most of the growing demand for real estate and the many upcoming projects.