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Real Estate Market in Goa

 Goa is a lovers paradise being one of the sought after destinations for honeymooners from all over the world. The churches, wine making, pop music, and the rich culture is the primary attraction of the place. When we talk of the real estate market in Goa, the first thing that strikes us are the properties that has successfully promoted the tourism industry in Goa, namely the hotels and beach resorts. They are an integral part of the Goa realty that is heavily depended on the revenue from the commercial sector and in this case it is primary the tourist attractions, shopping centers, and hotels. The casinos and the pub culture also set Goa rocking.

 

When there are about 17 popular beaches, the thought of having a vast landscape for residential setting is almost an unusual thought. Yet the traditional settlements of Goa are simply hard to forget. Most often the real estate boom in Goa came in the form of renovating the existing homes and cottages. In the wine making region and those near the beaches have residential projects which are expensive and might cost you a fortune if you are willing to buy an ownership home. The Non-residential Indians and the foreign visitors also prefer purchasing land, penthouses, and especially beach homes that they later use for commercial purpose like guest houses later. It is because of the foreign influx that the laws regarding buying and selling of property in Goa is comparatively stricter than many other places in the country. The real estate agents and developers are also required to adhere to a set of rules and regulations in real estate market.

 

It can be safely assumed that the real estate market condition in Goa depends primarily on the tourism sector and then the Goan residents. A large chunk resides in the capital city of Panjim and along the Vasco Da Gama railway station. Margao and Mapusa are also two places where the real estate investments in Goa go strong.

 

Rental rates for Goa homes

 

If you are unable to buy a property or your dream home at present, you can still reside in Goa and enjoy the beautiful atmosphere. There are beautiful homes available on rent throughout Goa, near the coastal areas, and in the downtown areas well. Often the rents vary as per the location and also on the basis of how secluded the place is. This is a unique feature of the real estate market in Goa. People prefer to spend vacations in secluded areas far away from the crowd. If you are willing to rent a Goan home for a month, you might end up paying Rs 10,000 for a month in exotic locations. Homes that provide massage facilities can charge you nothing less than Rs 30,000 or more for the month. But, if you have decided to become a resident there, you have to search for affordable options. For 2 BHK house with a little garden rents vary from Rs 6,500- Rs 15,000 monthly.