To the point: While the entire world has felt the effects of the COVID-19 slowdown, post-lockdown, the demand for luxury holiday homes has actually gone up. Giving to the major shift in working from home as compared to sitting at the office, many individuals are looking to invest in homes in tourist places for a break from the city.
According to a CNBC report, Goa is most likely to be the most favoured place for High Net Worth Individuals to invest in. This stems from two factors, better rental yields and a need for luxury living as a break from the regular schedule. Homebuyers are keen to have a second home where they can vacay or work in a hygienic and safe environment. HNIs are actually fuelling the sector with their demand for luxury housing in the sunshine state.
Lindsay Bernard Rodrigues, co-founder and director, Bennet & Bernard Group told CNBC TV 18, "What was once an aspirational 'want' is now emerging as a 'need' for a safe and secured home and sensible real estate investment. The earnest desire of buyers to log out of the choking, polluted and hectic city life and hit refresh in a serene space in the lap of nature is what has made holiday homes or dual homes a hot trend today and will continue to remain strong." He also states that the real estate trend may shift from buying apartments in the city to buying a spacious holiday home in a tourist destination over the coming years.