This is a complete guide to Buying a property in Goa in 2023.
In this in-depth guide you’ll learn:
So if you’re ready to go “all in” with GOA, this guide is for you.
Let’s dive right in. testing
Goa is the nation’s top holiday destination, offering a unique blend of culture, sun, sand, and Portuguese-style architecture.
Its environment makes it an attractive proposition for property investment, with lush greenery, tranquil beaches, and vibrant local culture.
Goa’s real estate market offers a variety of options, from luxurious beachfront villas to budget-friendly houses in scenic mountain settings.
With friendly locals and a vibrant nightlife, Goa is a popular choice for property buyers with varying goals and aspirations.
Goa’s real estate market is a story of transformation, which goes back to the time of Portuguese colonizers.
The first wave of real estate projects came after India gained Independence in 1947.
During the 1950s and 1960s, the Goan government acquired large tracts of land and distributed them through a land reform program.
These new owners utilized their land to build homes and small businesses.
However, Goa’s real estate market rocketed in the 1990s during which foreign visitors started looking for retirement homes and property in the state.
The state government, recognizing the significant growth in the real estate sector, streamlined the policies and launched various schemes to promote investments, attracting several big players in the real estate market.
During the 21st century, the real estate sector in Goa underwent massive transformations.
The demand for holiday homes in the state started driving the real estate market, leading to large-scale developments such as golf resorts, mixed-use projects, and premium villas.
This development has driven the demand for luxury properties in the state, leading to an increase in property prices, a trend that continues to date.
It is worth mentioning that the trend for holiday homes in Goa has been further accelerated by the Covid-19 pandemic.
As potential buyers shied away from crowded cities to picturesque villages. This shift also saw a considerable change in the kind of property being sought after.
Apartments and other urban-style properties took the backseat, with people opting for more rustic and laidback homes such as villas and bungalows near beaches and hillsides.
Now, it is time to go a little deep and understand how Goa became what it is today.
I am going to divide this story into 4 phase!
In the first phase, real estate development in Goa began in Panjim and nearby areas such as Miramar and Dona Paula.
These places provided a stunning view of the Mandovi River and the ocean from cliff tops.
The development then expanded across the Mandovi River to Reis Magos/Nerul, and onwards to Candolim, Calangute, and Baga.
In phase two, the erstwhile Bombay and part-Delhi crowd discovered a small village called Assagao.
Away from the beaches and commercialization, it offered large plot sizes, tree-lined avenues, hillocks, mini valleys, and farmlands.
At this time, Anjuna and Vagator also started to gain popularity with their boutique food and beverage offerings.
In the third phase, Assagao became the centre of reference for anyone seeking an impressive address in Goa,
while Anjuna-Vagator-Arpora became the destination for those wanting the best of both worlds – proximity to both Assagao and the beach.
Those looking for slightly more affordable options started exploring Parra, Siolim, Sangolda, and Saligao – areas closer to the beach and Assagao.
Meanwhile, those seeking the South Goa vibe discovered the world between Moira and Aldona across the highway (NH66).
Phase four saw the construction of the new Mopa Airport.
Designed to alleviate congestion at the existing Dabolim Airport, the Mopa Airport is expected to drive the next leg of real estate development and holiday home activity in both new non-beach areas and new beach areas.
We will discuss all the new area in the location guide chapter in detail.
The current real estate market in Goa is on an upward trajectory, providing significant growth opportunities and attractive returns to investors.
According to recent statistics, property prices in Goa have seen a significant increase over the past few years.
The average price per square foot has risen by approximately 15% since 2015, with premium properties witnessing a steeper increase.
Moreover, rental yields have also experienced steady growth, with average rental returns of around 5-6% annually.
In addition, the demand for luxury homes has surged in recent years, accounting for nearly 30% of the total residential property sales in the state.
The influx of foreign and domestic tourists seeking holiday homes in picturesque locations has contributed to this rising demand.
As a result, Goa has solidified its position as a sought-after destination for real estate investment, offering robust prospects for both capital appreciation and rental income.
or a combination of the above?
Understanding your goals will help you identify locations and types of properties that suit them best. This will save you time and money
Let’s dive in!
Definition : A Vacation or a second home is a property that is bought with the intention of using it for recreational purposes. Generally, these properties are not rented out or lived in full-time and can be used as vacation getaways.
In Goa, many people buy holiday homes near the beach to take advantage of its beautiful beaches and relaxed atmosphere. Some people choose to rent out their holiday homes
Definition: is a property that can be bought and rented out to generate income. Lot of people buy property in Goa and make it into an Airbnb or giving to professional leasing companies.
Goa has become increasingly popular as a real estate investment destination due to the strong demand for both holiday rentals and long-term rentals. Rental returns in Goa are generally higher than in other parts of India, making it an appealing option.
Also, as demand for more vacation homes increases so will the demand for land, leading to good price appreciation!
Definition: Is a property that an individual or family lives in on a full-time basis. These properties are usually bought with the intention of living in for an extended period of time, typically several years or more.
Goa has become increasingly popular as a destination for those looking to retire, work remotely, or just get away from it all.
Finding the perfect property that matches your desired lifestyle is crucial.
Whether you’re looking for a cosy home in a quiet neighbourhood or a bustling city apartment, the right property can greatly enhance your daily life.
Discovering a property that aligns with your lifestyle preferences ensures that you not only have a comfortable living space but also access to amenities, activities, and a community that complements your way of life.
Let us help you find your ideal property lifestyle match today!
After assisting over 200 buyers in their quest to find ideal properties, I recognized the value of a comprehensive understanding of my client’s desired lifestyle in Goa.
Therefore, I incorporated a ‘Discovery Viewing’ stage into my real estate process.
This stage is a crucial part of the property search, as it provides an opportunity for the buyers and me to explore and understand the kind of lifestyle they envision in Goa.
This targeted approach not only streamlines the search but also ensures that the property chosen aligns seamlessly with the buyer’s lifestyle aspirations.
Allow me to share an intriguing tale with you.
In the year 2022, I encountered a fascinating individual named Rajan Nath (name changed).
He approached me with an extraordinary request – “Abhishek, find me a property overlooking the majestic sea, regardless of the budget. I must wake up every morning to witness the captivating sea view.
Rajan expressed that this was his lifelong dream, and he sought my assistance in turning it into a reality and we did!
I got him this view!!
and not a day goes by when he is Goa that does not remember me- see his last whatsapp message
and now he affectionately calls me – Tewari ji! Okay, so let’s find your personality!
where sand meets style and tan lines are always on point! 😎🌴🌊
Are you the kind of person who craves the excitement and energy of a bustling tourist hotspot?
With its incredible beaches, thriving nightlife, and an endless array of restaurants and bars, it’s no wonder that this stunning Indian state draws visitors from around the world.
And for those who really want to immerse themselves fully in the action, holiday homes in the heart of the tourist areas provide the perfect base for exploring all that Goa has to offer. So, are you ready to join the party?
Life is slick, fast, and fabulous! 🏙️💃
For those looking for an urban oasis, Goa has plenty of residential properties located close to shops, restaurants and other amenities. From apartments with stunning views of the city skyline to condos that offer easy access to public transportation, there is something for everyone in Goa.
Perhaps you’re the kind of person who seeks tranquillity, the soothing chirps of birds, and a laid-back lifestyle. If so, the interior villages of Goa are your ideal sanctuary.
Nestled away from the hustle and bustle of city life and tourist crowds, these villages offer a serene and relaxed atmosphere, where time seems to slow down.
The houses here are surrounded by lush greenery, paddy fields, and picturesque backwaters, offering you an enchanting experience of rural living.
If you’re someone who cherishes peace, calm, and a slow-paced life, then the property in the quaint villages of Goa might just be your perfect match.
So, are you ready to embrace the quiet allure of Goa’s villages?
Another story time!
Once upon a time, in the bustling city of Bangalore, there was a visionary named Akhil Sharma (name changed), the founder of a remarkable start-up.
His heart yearned for a tranquil sanctuary amidst the serene paradise of Goa.
A place where he could escape the cacophony of daily reports and investor pressures, and instead, find solace in unwinding, dreaming, planning, and rejuvenating his spirit
I got him this!
So, if want to escape tourist crowds to a serene paradise in Goal!
Imagine if you could escape the chaos of the city and find calm and serenity in a small village.
Goa, with its idyllic beaches and scenic beauty, may seem like an unlikely place to find peace away from the hustle and bustle of everyday life, but it’s possible.
With holiday homes tucked away in the quaintest corners of Goa, they can truly find solace in their surroundings. The country life is calling!
Are you one of those rare individuals who have their priorities straight?
While others soak up the sun on the beaches of Goa and indulge in city life, you’re focused solely on making money from your investments.
It’s understandable- investing in holiday homes is a smart move that can help you rake in the profits. Why waste time lying on the beach, when you can show me the money?
Don’t let the allure of tourist traps distract you from your true goal- join the ranks of successful investors and watch your wealth grow.
Another story time!
Let me introduce you to my client – Anandam Chinoy (name changed), a real estate investor based in the US.
For over a decade, he has been passionately investing his money with a sole objective in mind – price appreciation.
Whether it’s buying land, apartments, or villas, his only concern is achieving a 20% Internal Rate of Return (IRR). Nothing else matters to him as long as the answer is a resounding yes..
In 2016, Mr. Chinoy and I ventured into a real estate investment in the scenic land of Parra, nestled within the vibrant realm of Goa.
Situated merely 10 minutes away from Mapusa, the second-largest city in Goa, this hidden gem held immense potential for exponential growth and development.
Why you ask?
Parra, located in the heart of North Goa, offers convenient access not only to the fantastic restaurants in Assagoa but also to numerous beaches just 15 minutes away. What’s even more remarkable is its proximity to the N66 – the highway leading to Mopa.
We invested at @12,000 square meter and we exited at 37,000 square meter – that is IRR of 88% over 4 years!
Parra, a place that gained fame after being featured in the shooting of the movie “Dear Zindagi,” has become a popular tourist destination for influencers and people seeking to capture memorable stories. This is the location of the popular road- called “Parra Road” in the video below (starts at 0:24)
In, finding the perfect property lifestyle match in Goa can be an exciting and rewarding experience.
With its beautiful beaches, vibrant culture, and diverse range of properties, Goa offers something for everyone.
Now that you know what property lifestyle – let’s dive into understanding the location of GOA?
Now that you know your goal, your personality match
finding the location becomes the easy part!
Now, it is time to go a little deep and understand how Goa became what it is today.
When you search online for the best locations to buy property in Goa
When you search online for the best locations to buy property in Goa
You will come across numerous developers in Goa who claim to provide information on the top areas.
However, it is important to be cautious as their advice may not be reliable and is often biased since their primary goal is to promote their own projects in these areas.
If you’re torn between North Goa and South Goa, let me break it down for you.
North Goa is known for its vibrant nightlife, bustling markets, and energetic beach parties. It’s the perfect choice if you’re looking for a lively and energetic atmosphere. With its scenic beaches, water sports activities, and beach shacks serving delicious seafood, North Goa is a haven for party-goers and adventure enthusiasts.
On the other hand, South Goa offers a more relaxed and tranquil experience.
The beaches in South Goa are less crowded, allowing you to unwind and enjoy the serene beauty of the coastline. The region is home to pristine beaches, picturesque landscapes, and upscale resorts. It’s ideal for those seeking peace, solitude, and a chance to rejuvenate amidst nature’s tranquility.
Ultimately, your choice between North Goa and South Goa depends on your preferences. If you want to dance the night away and soak up the energetic vibes, North Goa is the place to be. If you prefer a laid-back and peaceful beach living, South Goa will provide the perfect locations.
If you’re thinking of investing in a property in Goa, you’re spoiled for choice with options including villas, apartments, Portuguese homes, and land.
Choose a property type that suits your budget, lifestyle, and needs.
If you are considering investing in real estate in Goa, buying an apartment could be a highly affordable and lucrative option.
Apartments in Goa not only provide a comfortable living space but also offer great potential for generating regular income through rental opportunities.
With the increasing tourist influx in Goa, the demand for rental properties is on the rise, making apartments an attractive choice for investors.
An apartment provides you with a permanent home or vacation property without the maintenance of owning a house. Plus, it’s a smart investment for your future. So why not take the plunge and own your own slice of paradise in Goa?
For those looking for luxury and privacy, a villa is the perfect choice. Villas have become extremely popular among both local and foreign buyers looking to invest in Goa. The majority of Villas are situated around beaches or rivers
Villas offer luxurious living with private amenities, while apartments are more affordable and convenient.
Price of villa range from as low as 2cr to all th way upto 30 Cr. So, there is always something for everyone!
There are standalone Villas or Mansion Villas that are typically built of a 700-1200 Sq Yard property
There are gated community villas that are villa for 7-12 villas- some come with private pool and some come with a community shared pool
Pros
Cons
Portuguese homes showcase the state’s rich cultural heritage. Lastly, buying land is a great investment choice for those looking to build their dream home from scratch. The decision ultimately depends on your preference and purpose, but in Goa, you’re sure to find the perfect property to call home.
Pros
Cons
Buying land in Goa is one the hardest things I have done after getting married!
Goa Land title because of it being a portuguese colony, the title of most of the land are either dispute and lack of proper documentation makes them a risk proposition
However, if the right due diligence is done in verifying title of the land and getting proper documentation to back it up then it can be a good investment.
When purchasing property in Goa, it is crucial to consider the Goa Zoning Laws.
Understanding and adhering to these laws ensures that you are well-informed and compliant with the regulations governing property ownership and development in Goa. By familiarizing yourself with the specifics of the zoning laws, you can make informed decisions and avoid any potential complications or legal issues that may arise in the future.
There are many factors to consider when it comes to buying land in Goa. It’s important to research the area you want to purchase in, as well as the local property laws and regulations. Additionally, it is important to look into zoning requirements so that you know what kind of building can be constructed on the land.
If you’re considering buying a land parcel in Goa, there are a few things to keep in mind. While the prospect of owning your own property in a beautiful coastal town may be enticing, it’s important to do your research before making any decisions. From zoning laws to property taxes, there are a variety of factors that can impact your experience as a property owner. However, if you’re up for the challenge, owning an apartment or piece of land in Goa can provide plenty of opportunities for rest, relaxation, and exploration.
Overall, there are many potential benefits to buying land in Goa. If you do your research and find the right plot of land, you may be able to build a dream home or a profitable rental property for years to come. Be sure to consider all of the potential risks involved before purchasing any land in Goa. Good luck!
A prominent builder from Delhi reached out to me with an intriguing proposition.
He expressed his desire to relocate to Goa, seeking a retired life filled with the tranquility of the coastal paradise, while also continuing his professional ventures.
Intriguing, isn’t it?
In 2017, I got him this land parcel andwe have to villa now!
Check out this beautiful full furnished Villa in Anjuna, Goa
Now that you have a grasp of Goa, familiarized yourself with all the locations, and identified your personality match and budget
it’s time to delve into the process of finding the perfect property. Let’s break it down step by step
If you are considering investing in real estate in Goa, buying an apartment could be a highly affordable and lucrative option.
Apartments in Goa not only provide a comfortable living space but also offer great potential for generating regular income through rental opportunities.
With the increasing tourist influx in Goa, the demand for rental properties is on the rise, making apartments an attractive choice for investors.
An apartment provides you with a permanent home or vacation property without the maintenance of owning a house. Plus, it’s a smart investment for your future. So why not take the plunge and own your own slice of paradise in Goa?
Pros
Cons
For those looking for luxury and privacy, a villa is the perfect choice. Villas have become extremely popular among both local and foreign buyers looking to invest in Goa. The majority of Villas are situated around beaches or rivers
Villas offer luxurious living with private amenities, while apartments are more affordable and convenient.
Price of villa range from as low as 2cr to all th way upto 30 Cr. So, there is always something for everyone!
There are standalone Villas or Mansion Villas that are typically built of a 700-1200 Sq Yard property
There are gated community villas that are villa for 7-12 villas- some come with private pool and some come with a community shared pool
Pros
Cons
Portuguese homes showcase the state’s rich cultural heritage. Lastly, buying land is a great investment choice for those looking to build their dream home from scratch. The decision ultimately depends on your preference and purpose, but in Goa, you’re sure to find the perfect property to call home.
Pros
Cons
Buying land in Goa is one the hardest things I have done after getting married!
Goa Land title because of it being a portuguese colony, the title of most of the land are either dispute and lack of proper documentation makes them a risk proposition
However, if the right due diligence is done in verifying title of the land and getting proper documentation to back it up then it can be a good investment.
When purchasing property in Goa, it is crucial to consider the Goa Zoning Laws. Understanding and adhering to these laws ensures that you are well-informed and compliant with the regulations governing property ownership and development in Goa. By familiarizing yourself with the specifics of the zoning laws, you can make informed decisions and avoid any potential complications or legal issues that may arise in the future.
There are many factors to consider when it comes to buying land in Goa. It’s important to research the area you want to purchase in, as well as the local property laws and regulations. Additionally, it is important to look into zoning requirements so that you know what kind of building can be constructed on the land.
If you’re considering buying a land parcel in Goa, there are a few things to keep in mind. While the prospect of owning your own property in a beautiful coastal town may be enticing, it’s important to do your research before making any decisions. From zoning laws to property taxes, there are a variety of factors that can impact your experience as a property owner. However, if you’re up for the challenge, owning an apartment or piece of land in Goa can provide plenty of opportunities for rest, relaxation, and exploration.
Overall, there are many potential benefits to buying land in Goa. If you do your research and find the right plot of land, you may be able to build a dream home or a profitable rental property for years to come. Be sure to consider all of the potential risks involved before purchasing any land in Goa. Good luck!
Pros
Cons
A prominent builder from Delhi reached out to me with an intriguing proposition.
He expressed his desire to relocate to Goa, seeking a retired life filled with the tranquility of the coastal paradise, while also continuing his professional ventures.
Intriguing, isn’t it?
In 2017, I got him this land parcel andwe have to villa now!
Check out this beautiful full furnished Villa in Anjuna, Goa
In India, everyone is a builder, Everyone!
It is my job to know help you guide you to find the right builder for you.
Someone, who you not only present you
beautiful brochure, 3D renders but will actually deliver on what he promises!
Let’s dive in!
If you are considering investing in real estate in Goa, buying an apartment could be a highly affordable and lucrative option.
Apartments in Goa not only provide a comfortable living space but also offer great potential for generating regular income through rental opportunities.
With the increasing tourist influx in Goa, the demand for rental properties is on the rise, making apartments an attractive choice for investors.
An apartment provides you with a permanent home or vacation property without the maintenance of owning a house. Plus, it’s a smart investment for your future. So why not take the plunge and own your own slice of paradise in Goa?
Pros
Cons
For those looking for luxury and privacy, a villa is the perfect choice. Villas have become extremely popular among both local and foreign buyers looking to invest in Goa. The majority of Villas are situated around beaches or rivers
Villas offer luxurious living with private amenities, while apartments are more affordable and convenient.
Price of villa range from as low as 2cr to all th way upto 30 Cr. So, there is always something for everyone!
There are standalone Villas or Mansion Villas that are typically built of a 700-1200 Sq Yard property
There are gated community villas that are villa for 7-12 villas- some come with private pool and some come with a community shared pool
Pros
Cons
Portuguese homes showcase the state’s rich cultural heritage. Lastly, buying land is a great investment choice for those looking to build their dream home from scratch. The decision ultimately depends on your preference and purpose, but in Goa, you’re sure to find the perfect property to call home.
Pros
Cons
Buying land in Goa is one the hardest things I have done after getting married!
Goa Land title because of it being a portuguese colony, the title of most of the land are either dispute and lack of proper documentation makes them a risk proposition
However, if the right due diligence is done in verifying title of the land and getting proper documentation to back it up then it can be a good investment.
When purchasing property in Goa, it is crucial to consider the Goa Zoning Laws. Understanding and adhering to these laws ensures that you are well-informed and compliant with the regulations governing property ownership and development in Goa. By familiarizing yourself with the specifics of the zoning laws, you can make informed decisions and avoid any potential complications or legal issues that may arise in the future.
There are many factors to consider when it comes to buying land in Goa. It’s important to research the area you want to purchase in, as well as the local property laws and regulations. Additionally, it is important to look into zoning requirements so that you know what kind of building can be constructed on the land.
If you’re considering buying a land parcel in Goa, there are a few things to keep in mind. While the prospect of owning your own property in a beautiful coastal town may be enticing, it’s important to do your research before making any decisions. From zoning laws to property taxes, there are a variety of factors that can impact your experience as a property owner. However, if you’re up for the challenge, owning an apartment or piece of land in Goa can provide plenty of opportunities for rest, relaxation, and exploration.
Overall, there are many potential benefits to buying land in Goa. If you do your research and find the right plot of land, you may be able to build a dream home or a profitable rental property for years to come. Be sure to consider all of the potential risks involved before purchasing any land in Goa. Good luck!
Pros
Cons
A prominent builder from Delhi reached out to me with an intriguing proposition.
He expressed his desire to relocate to Goa, seeking a retired life filled with the tranquility of the coastal paradise, while also continuing his professional ventures.
Intriguing, isn’t it?
In 2017, I got him this land parcel andwe have to villa now!
Check out this beautiful full furnished Villa in Anjuna, Goa
Buying a property is one of the biggest decisions and investments that you will ever make, making it important to choose the right builder to make your dream home a reality.
While there are many factors to consider when selecting the right builder house
it all boils down to knowing what you want and partnering with the right builder who can meet your expectations.
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