Goa has been one of the most preferred tourist destinations in India, recognized worldwide. From some of the most picturesque turquoise blue water beaches to frenzy nightlife, the coastal state is a paradise for the tourism & hospitality industry. Its idyllic environs, lush green backyards, and mesmerizing Indo-Portuguese architecture sync well with various tourists groups. From multi-generational family hangouts to adventure seeking millennials to matured corporate clientele seeking some healing, Goa’s suits everyone.
While Goa’s tourism goes strength to strength, its property market is also registering a momentous shift. The state is becoming a hotbed for second homes and retirement villas. The well-heeled Indians from metros such as Bangalore, Mumbai, and NCR comprising tech entrepreneurs, creative mavericks, and remote workers are relocating to Goa. Many are opting for long leases while others are investing in properties. Goa is a perfect haven for someone who would like to shun hectic city life and relax amidst sea, sand, and parties. Goa’s evolved social status also draws the attention of rich NRIs from all over the world.
In north Goa, Porvorim is becoming a bustling property market catering to the rich. Situated at just 4kms from the capital Panaji, Porvorim is the perfect blend of a modern dynamic urban catchment and laidback Goan town.
Porvorim is one of the most sought-after destinations for the growing population of remote workers, digital nomads, and adventure seekers, who are lured by its natural beauties and proximity to plenty of beaches in North Goa. The micro-market is well placed with both the airports in Goa. It is situated at 22 and 31 kms respectively from MOPA and Dabolim airports. Its proximity to the capital has also resulted in mushrooming of numerous new malls, shopping arcades, hotels, restaurants, pubs, cafes, etc. Not to forget administrative buildings, healthcare facilities, and educational institutions.
Plenty of new projects encompassing gated villas, multi storeyed apartments, premium villas are coming in the region. High-end properties are available in the range of INR 20,000- 25,000/ sq. ft., whereas other budget options are also available.
Colva, located at around 6 kms from Margao, the cultural hub of South Goa, is becoming a fast growing second home market. The beautiful region with white beaches, palm trees, and serene weather is popular amongst both Indians as well as foreign expats. The region is located at around ~ 28 kms from Dabolim Airport. It is a well-established tourist destination with luxury hotels from ITC, Hyatt, and Radisson.
Colva beautifully carries the Portuguese and European legacy of Goa, abound with heritage bungalows, old churches, museums, traditional villas, etc. It is perfect for someone who is willing to own a second home in the midst of serene weather and natural endowments alongside the old-world charm.
The region is a thriving market for beachfront villas, gated row houses, and luxury homestays. Premium projects are available at INR 14,000-17,000/ Sq. Ft. Meanwhile, properties are available at around INR 6,000- 7000/ Sq. Ft.
In the North of Goa across the Maharashtra border, the property market in Sindhudurg is registering a monumental shift in demand. After the opening of MOPA airport, which is at a distance of around 25-30 mins from Sindhudurg, property prices are soaring.
The region has been relatively less explored in the past. Nevertheless, with the increased connectivity of the region following the opening of the airport, both developers as well as property buyers are intrigued by the region.
The region is evolving into a promising ground for second homes. Similarly, there is enough potential for ecotourism, adventure tourism, staycation, wellness resorts, etc. After the opening of the airport, the overall infrastructure in the region is getting a facelift with the cohort of high-ticket projects such as Aerocity, cricket stadium, film city, logistics park, etc. This will further push the property market forward.