Goa has emerged as the top choice for Indian buyers seeking holiday homes, with a growing trend in recent years of people favouring the sun, sand, and relaxed lifestyle of Goa over the previously popular hill retreats, according to Ashwin Chadha, CEO of India Sotheby’s International Realty." One of the reasons for preferring Goa is higher rental yields compared to other parts of India. “Residential yields are highest in Goa.
While outside it’s in the range of 2-3%, in Goa, the yield is in the range of 5-6%. So, they’re almost double,” Chadha pointed out. This statistic alone has made Goa an attractive proposition for investors who seek not only a vacation spot but also solid returns on their investment.
Over the past few years, narrative has changed. Chadha attributes this to the lack of development in hill stations compared to the rapid modernisation of Goa. “Goa’s ever-evolving social scene, with new restaurants, cafes, nightclubs, and bars popping up regularly, has given it a significant edge,” he said.
Goa’s real estate market isn’t just growing in terms of buyer interest, but it’s also expanding geographically. “Earlier, Goa was limited to Panjim. Then it moved to Baga and Calangute, then further to Candolim.
Now, it’s stretching up north to Morjim, Ashwem, and soon to Tiracol,” Chadha explained. This northward expansion is bolstered by the development of infrastructure like the new airport in North Goa, which has made the area even more accessible. With such rapid expansion, prices have surged in Goa.
“Goa used to be a Rs 5 crore to Rs 15 crore market. Today, we’re seeing properties worth Rs 100 crore. There are villas in Goa now that are valued at that range,” Chadha said.
The increase in high-end properties reflects the growing demand from ultra-high-net-worth individuals looking for exclusive vacation homes in the region. “Up until now, we’ve been seeing three-villa developments, five-villa developments, and gated communities. But now, DLF is working on a 38-acre project with 61 villas, each priced at around Rs 50 crore,” he revealed.
These kinds of developments signal a new level of luxury in Goa’s real estate market..
