Survey Reveals 71% of HNIs Want to Buy Property in Goa This Year

According to a recent poll conducted by the Indian Society of Real Estate (ISIR), with a remarkable 35% of respondents, Goa continues to be the top choice for holiday houses. On 18 January 2024, the survey—which comprised more than 500 High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs)—was presented at a gathering in New Delhi. According to the report, Goa is the most popular destination for holiday houses and 71% of wealthy Indians say they are looking for luxury real estate.

The urge to invest in international real estate has stayed stable at 12%, with Dubai, the United Arab Emirates and the United States continuing to hold their top spots. Capital appreciation has surpassed lifestyle upgrades. The survey also revealed that 83% of wealthy Indians questioned their numerous luxury properties, indicating a trend among the rich to have diverse real estate portfolios. In addition to their permanent homes, 34% of respondents showed off their business real estate, 25% their vacation homes, 21% their agricultural land and 20% their farmhouses.

Investors wishing to purchase holiday or vacation properties have been attracted to Goa. Owners of second homes in the Middle East, Europe, Singapore, the US and Dubai, business leaders, industrialists, new-age entrepreneurs, media and film industry heavyweights, hotel owners and micro-entrepreneurs and non-resident immigrants (NRIs) from London, Europe, and Singapore have come to this charming destination. With HNIs, the salaried upper middle class and professionals in the service sector investing in the tropical state, the buyer profile has also shifted.

Benefits of Investing in Goa

Goa’s demand for second homes increased during the pandemic because of advantages such as long-term end-use, strong rental production and utilization as a primary residence. Many homebuyers were drawn to Goa by the desire for better living conditions overall, as well as the need for clean air, water and food as well as being close to a cross-cultural setting. Developers are making the most of the expanding market by offering one-foot-square villas in exclusive communities.

Savills India reported that the rental rates in the Goa second-home market have increased to 4–10%. There has been a 25–30% increase in rentals and occupancy. The consulting firm is to host the second Savills Home Fest Goa, which will feature independent and secondhand villas, flats and new launches in gated communities, in addition to Veera Group’s last-mile inventory.

Share:

Leave a Comment