Goa Emerges as Prime Destination for High-Net-Worth Investors and why you should also consider investing in a Holiday Home in Goa
In a surprising turn of events, despite a 40% surge in property prices across India's top seven cities in the last 24 months, Goa has emerged as the top choice for High-Net-Worth Individuals (HNIs) seeking vacation homes. According to the annual Luxury Outlook Survey 2024 conducted by India Sotheby’s International Realty (ISIR), a staggering 71% of HNIs express a keen interest in purchasing real estate in the upcoming 12-24 months.
The survey reveals a shift in priorities for real estate investors, with capital appreciation overtaking lifestyle upgrades as the primary motivation for investment (44%). This signals a return of investors to the market, focusing on long-term appreciation. The trend extends beyond primary residences, with 83% of affluent Indians owning multiple luxury properties, reflecting a diversified real estate portfolio among the elite.
Interestingly, among the holiday home buyers, 35% have chosen Goa as their preferred destination, emphasizing the enduring appeal of Goa's lifestyle among India's wealthy. It's within this landscape that Axis Ecorp, a prominent player in the real estate market, stands out as the ideal choice for HNIs looking to invest wisely.
Ashwin Chadha, CEO of India Sotheby’s International Realty, notes, "We are witnessing a remarkable shift in economic sentiment, reflecting the resilience and potential of the Indian economy. This optimism bodes well for the luxury real estate sector."
As 43% of UHNIs and HNIs express a desire to consolidate their portfolios, focusing on better-quality properties and rent-yielding assets, Axis Ecorp positions itself as a strategic partner for wealth accumulation and creating multigenerational wealth through real estate investments.
In terms of interest rates on home loans, 56% of HNIs and UHNIs believe that the Reserve Bank of India (RBI) will start reducing interest rates in 2024. This optimism aligns with a broader acknowledgment of real estate's enduring value and potential for sustained financial growth.
While global markets like Saudi Arabia and Mexico City are emerging as potential destinations, the report highlights Saudi Arabia's pending law that will allow foreign investment in real estate, marking a significant turning point for luxury real estate.
As Goa takes center stage in the preferences of HNIs, Axis Ecorp stands as the brand of choice, offering a seamless blend of luxury, value, and long-term investment potential. Offering a diverse portfolio, from exquisite poolside villas to sophisticated smart suites, Axis Ecorp caters to the refined tastes of one and all. The strategic locations of their properties, which are a mere 10 minutes drive from the newly opened MOPA airport, ensure not just a home but an immersive experience. With a focus on long-term value, Axis Ecorp properties are designed to grow in capital appreciation, becoming a legacy for generations. Exclusive amenities, from private pools to concierge services, enhance the luxury lifestyle. As Goa emerges as the top choice for HNIs seeking vacation homes, Axis Ecorp stands out as the developer of choice.
