Goa continues to show double-digit growth in terms of tourist in-flow as it is regarded as one of the most appealing locations spanning over 100 kilometres from north to south along the Arabian Sea. It has white sandy beaches, beautiful churches, and natural reserves with well-protected flora and fauna.
Furthermore, Goa is now regarded as a prime investment hub where the high level of tourism has stimulated the number of buildings to occupy the holidaymakers and the existing property holders are gleaning great value out of it. In the current years, many reputed and trusted builders have planned projects highlighting the new merge of amenities, nature, and security inside for a greater experience.
Tourism matters a lot and because of this, it has pushed many aspects of Goa that include real estate development, employment, and industrial hub with this more activities have been taking place to spur the overall growth in Goa. Apart from tourism, many startups have taken place here to garner the same experience as Bengaluru and Gurgaon.
“Its coastline, alluring landscape, historical temples, churches, waterfalls, wildlife reserves, and more increase the cultural growth and bring high tourism in Goa, with more than 3.0 million tourists with 0.5 million foreign tourists and this number escalates every year.”
This has increased the number of hotels, shopping centres, adventure sports, cruise facilities, and many more for the top-tier tourist who seeks more than just Goa’s natural beauty. Investors are now keen to buy property in Goa because of the roar in tourism the existing properties are fetching immense rentals every month.
Food processing, IT hub, pharmaceuticals, entertainment industry, medical tourism, heritage tourism and more have taken place in Goa. It has increased employment which has even enhanced the real estate sector because of the high demand for properties. Top builders have conceptualized its exotic residential projects holding facilities like a resort and now they have been converted into hotels.
North Goa is considered more than the South because it is already a developed area with popular resorts, beaches, malls, clubs, and more, whereas, the South is more affordable in terms of investment. But many projects have been planned in the South which soon will be delivered and after that, it will spur pricing. Normally, places that are not prominent are easily avoided, but good attention can serve a high return on investment (ROI).
Goa has always been a favourite location for non-residential Indians. And what’s more interesting is that there is an upward trend of NRIs investing in Goa’s real estate industry. As per surveys, most NRIs consider Goa as their investment location after metros like Gurgaon, Mumbai, and Pune. There are several reasons for NRIs choosing Goa, but the thriving tourism industry is the topmost reason. Because of impeccable tourism, the chance of great returns on investment in real estate is very high. It is said that NRIs who invest in the real estate industry in Goa initially get an average return of 7 percent to 8 percent. While the actual return goes as high as 18 percent to 22 percent.
What shows a better sign of development than the announcement of the second airport in Goa? The Goa International Airport is an under-construction greenfield airport that is being built at Mopa in Pernem taluka of the North Goa district. GMR Goa International Airport Limited is currently developing the airport with a cost amount of around INR 3,000 crore. The new airport is touted to further enhance Tourism in the state