Why is Goa gaining prominence as second home destination?
Be it for the personal retreat or diversifying the asset portfolio, the second home market in Goa has generated quite a buzz among investors. The Union Territory (UT) has increasingly gained prominence as a strong contender in the real estate market due to the heavy footfall of local and international tourists. Buying a property in Goa is considered a safe and intelligent investment decision that ensures high rental returns and resale value. On average, properties in Goa can yield 12-16 percent returns annually. Competitive real estate prices, when compared to metro cities of India, is yet another major reason why investing in a holiday home in Goa seems to be a profitable option.
According to Aditya Kushwaha, CEO and Director, Axis Ecorp, “The demand for real estate in Goa has been growing steadily over the past few years. On an average, there has been a 30-50 percent appreciation in the Goa real estate market in the last three years. Similarly, the luxury holiday homes market in Goa has always been in high demand, and witnessed further highs in the post-COVID-19 times.”