Goa is the land of panoramic beaches, lush green forests and palms, mood lifting parties, vintage architecture and a cuisine to die for. Apart from being a prominent tourist destination, it has recently seen an upsurge in the real estate market as well. Indians, NRIs, PIOs (People of Indian Origin), and even foreigners are eyeing on owning a piece of Goa as their second home, whether it's a Luxury Villa or a Premium Apartment.
Owning your own luxury apartment near the beach in Goa might come handy in ways more than one. If you are a frequent visitor or traveller to Goa, this might save you the hassles of rental bookings and reduce your expenditures. Goa is one of the places where just one visit isn’t sufficient. Its beaches offer the ambience and environment to unwind and relax like no other place in India does. That’s one of the reasons people visit here frequently. Having your own apartment near the beach will make it more convenient for you to enjoy this paradise in your own comfort. Other times, you can rent out your apartment and enjoy a steady source of passive income as well.
Goa real estate market brags a wide variety of luxury apartments in its north and south region. If your motive in investing in a property is to earn a year long rental income, properties in the northern stretch would be a better option as it is more popular with tourists. The area houses most of the popular beaches in Goa such as Morjim, Anjuna, Vagator, Calangute, Baga, and Candolim beach. This part of the city attracts the majority of tourists and experiences high demands of rental properties. The property rates at North Goa, although, falls on a higher range but assures high returns due to soaring growth of the tourist every year.
If you’re looking at a place to stay and relax, South Goa would provide you the property options, crowd and ambience to let yourself out. Some of the popular beaches of this part of the city are Palolem, Agonda, Cavelossim, Benaulim, Colva, and Majorda. South Goa is known to be more peaceful and popular with the foreign tourists. The property prices here are not skyrocketing as the northern area, and hence it attracts many short term investors and people planning to shift for a peaceful retirement.
While on the hunt for the perfect beachside apartment in Goa, here are some tips that might help you choose the best apartment:
1: Don't just see the outdoors: Most of the apartments near the beach will promise you mesmerizing views from the balconies and windows. But make sure you scan every corner of the house for any damage, space, functioning of amenities etc.
2: Get an estimate of rent: Check the rental average of your locality and estimate your annual returns before your purchase. Check out for nightclubs and other tourist attractions in the near vicinity that might justify for a higher rent.
3: The selling price: Speak to renowned realtors in the area and find out the movements in resale prices. You might want to consider selling your property later on and enjoy a higher rate of return.