Expats prefer Goa as a second home

Goa has always been in the news as a tourist hub and a traveler’s delight. However, the real estate prospects in Goa have added a new dimension to the region. Local home seekers are being outnumbered by foreigners and expats who want to buy villas and luxury beach houses in the city.

Goa’s cool and temperate climate enchants visitors who want to settle here permanently. And property brokers are making the most of this sentiment. A Goa real estate broker reports that most expats are looking for fully furnished flats in South Goa. Beach towns like Fatorda, Benaulim, Margao and Assagaon are the preferred locations.

Chetan Gatge, who deals in properties in Goa, says he gets at least 10 inquiries a month from the expat population. “Most expats prefer stand-alone beachfront villas that are fully furnished,” says Gatge. Furthermore, he reveals that most expats rent these houses during specific holiday periods, such as monsoons, summers, and winter. However, a considerable number of expatriates buy a house in Goa as a second residential option and usually spend half of their time in Goa.

Property prices in Goa are reasonable as compared to nearby cities like Mumbai, Pune, Nagpur, etc. The capital value of an apartment in Anjuna ranges from Rs 3,000 to Rs 5,000 per square foot. The highest capital values ​​have been observed for Doña Paula. Values ​​here range from Rs 5,600-9,5000 per square foot. Rental rates for a two-bedroom house range from Rs 26,000 to Rs 38,000 per month. Doña Paula is the town facing the sea and mostly has independent premium villas.

Actually, commercial and residential properties in all categories do well in Goa. Hotels, motels, resorts, guest houses, villas, serviced apartments, condos, beach houses; almost everything is for sale here. Home seekers and hospitality players are making the most of these real estate options. And now even travelers and foreigners are adding to the city’s real estate growth.

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