Property Trends in Goa
People with ample funds investing in Goa’s real estate market have caused real estate prices to skyrocket in Goa. Experts in the field say that the prices of real estate in the state have increased more than 100% in the last five years. Areas in the coastal region or near beaches have increased to a great extent. The general value of land in the state is reevaluated every 6 months, and this just keeps adding to the rising costs of real estate in Goa.
Places all over the state have been dubbed for particular people and this is now one of the property trend in Goa. Areas near the beaches or in places like Dona Paula and so on are extremely expensive and usually the only people living here are foreigners or celebrities. Furthermore, people stopped investing in houses along the beach because beaches are too overcrowded and overpriced. Many people rent out their houses along the beach to tourists and stay at smaller dwellings in the hinterlands and they find this very profitable, especially during the tourist season. It seems like a wiser solution to invest in a house along a river with less of a crowd and that would also be cheaper.
In Goa the general rule is that the prices of places totally depend on the builder. The various factors that add to increased prices are, who the builder is, location of the project and amenities the project comes with. Most projects these days are fully furnished and come with a lot of features allowing you to live a luxurious life. Most builders consider this to be a wise investment considering the prices of land in the state are rising rapidly, or so they say.
Since cities in almost every place in Goa are overcrowded or almost overcrowded, builders are now looking towards sub urban areas or hinterlands of the state to start projects there. This would begin to help people that want to stay away from the city life and away from the congested cities.
Some builders are now aiming towards the locals and pricing their projects slightly lower, with hopes that they get some good local buyers.