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Expatriates Prefer Goa For Second Home


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Goa has always made news as tourist resort and traveler's delight. However, real estate prospects in Goa have added new dimension to the region. Local home seekers are being outnumbered by the foreigners and expatriates who want to buy villas and luxurious beach houses in the city.

Goa's cool climes and temperate weather enchant visitors who want to settle here permanently. And property brokers are making the most of this sentiment. A real estate broker from Goa informs that most expatriates look for fully furnished flats in South Goa. Beach localities like Fatorda, Benaulim, Margao and Assagaon are most preferred locations.

Chetan Gatge who deals in property in Goa says that he receives at least 10 queries monthly from the expatriate population. “Most of the expats prefer beach facing independent villas that are fully furnished, " says Gatge. He further reveals that most expats take these houses for lease for specified holidays periods like the monsoons, summers and winter. However, a sizeable number of expats buy home in Goa as a second residential option and often spend half of their time in Goa.

The property prices in Goa are reasonable as compared to nearby cities like Mumbai, Pune, Nagpur etc. The capital value for an apartment in Anjuna ranges between Rs 3,000-5,000 per sq ft. The highest capital values have been noted for Dona Paula. The values here range between Rs 5,600-9,5000 per sq ft. The rental rates for a two-bedroom house are anything between Rs 26,000-38,000 per month. Dona Paula is the sea facing locality and mostly has independent premium villas.

Actually, commercial and residential property in every category does well in Goa. Hotels, motels, resorts, guest houses, villas, serviced apartments, flats, beach houses; almost every thing is up for sale in here. Home seekers and hospitality players are making most of these real estate options. And now even the travelers and foreigners are adding to the real estate growth of the city.

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