What does one think of when
the word Goa comes to his/ her mind? Sand, surf, some really exotic beaches and
lots of good food and drinks, right? However, one should not overlook the
beauty and significance of real estate in this beautiful location because it is
emerging as quite the investment destination for a lot of people who are
looking to invest in an offbeat residential and commercial location. For many
people, this is a place where one can move in with their business on a
temporary basis to find out what it is like to do business in a destination
with strong cultural roots and tradition. There are many options available for
those looking for residential apartments for rent in Goa say experts at
property.sulekha.com.
The real estate market of Goa
was reeling under s spate of concurrent slowdowns since early 2014, while the
rest of the country was showing rapid growth. At this time however, the market
in Goa seems to be flourishing while the rest of the country seems to be going
through a downturn. There are two very different and specific markets in the
real estate scenario of Goa.
"North Goa is more of an
investment market, while South Goa, which is slightly more affordable, is for
home seekers," according to researcher Ravi Ashok Khandelwal, who is a
property analyst with the real estate research agency, Liases Foras. People who
want to get higher rates of return from their investments look for properties
in Northern Goa because it offers them greater returns on their revenue in
terms of rent, resale etc. It is a popular destination with a lot of tourists,
a lot of the trade especially the seasonal trade is concentrated there and thus
it is a good place to do business. South Goa is for the people who want a
quiet, restive spot for making a holiday home.
According to the President of
CREDAI, Jaganath Prabhudesai, "Basically investors are more in
North Goa. The value of a property
appreciates more, that is why they will buy in North Goa."
Most developmental projects
are concentrated along the North Goa belt. Hence, if you wish to invest in
residential apartments for rent, it is more likely that you will get more in
this area. Most big ticket investors and developers like DB Realty, Gera,
Prestige etc are focussing on the upper regions of North Goa.