Buy Villa In Goa

Goa, India’s tropical state on the Arabian Sea, has become a preferred holiday destination for thousands of Indian and international tourists. The beautiful white sandy beaches, coconut palms, easy lifestyle, hills, forests, beautiful churches, and party hotspots are a huge draw.

In recent years, Goa has become a favorite investment destination as well. The real estate market has seen an impressive growth, mostly because of purchases made by Indians, NRIs (non-resident Indians), PIOs (person of Indian origin), and even foreigners who are looking for a second home. People from Mumbai, Delhi, and Bangalore have invested a lot of money to buy a property in Goa – houses, apartments, and even luxury villas because they want to unwind and stay close to nature. Overseas property interest in Goa is from Russia, the United Kingdom, and some other European countries.

You can buy a villa in Goa and shift here like what many foreigners do, living for long-term. It can also be your vacation home where you can come and stay frequently. There is so much to see and do in Goa that one visit is never going to be enough. That’s why many come here several times, often on weekend trips from the neighboring cities and areas. Or you can rent out your property for a steady second income stream. Of course, you can also sell off your property later for a profit.

• For a Goa home as a second home – long-term living.
• For your Goa accommodation on trips to India’s sunshine state.
• To rent out for a steady income – a Goa villa can fetch you good money.
• To sell for profit later – Goa property prices are rising every year.

Property In Goa – Prices

Property prices in Goa are going up, but they are still a lot cheaper than most metropolitan cities in India, which means that for the same amount, you can buy a bigger villa or an apartment. The price usually ranges between INR 3800 and 5000 per square feet, but in certain areas, it can be as much as INR 7,000 per square feet. For a same property in Delhi, Mumbai, or Bangalore, you will have to pay more than INR 9,000-12,000 per square feet.

South Goa is generally cheaper, as the North is more commercial, which drives up the prices. For instance, the Basic Sale Price (BSP) in Margao in the south range between INR 3800 and 5000 per square feet, but in Panaji, it is between INR 5500 and 7000 per square feet. Margao is Goa’s second city, and also the state’s cultural capital. So you can consider the South if you are on a budget.

In recent years, property prices have seen the most appreciation in Dabolim, in the city of Vasco da Gama. The Goa International Airport is located at Dabolim. Property prices in Dabolim have gone up by about 30% in the last few years.

• Row houses cost between 2 and 3 crores INR, which is 20 to 30 million.
• Luxury villas for sale in Goa or beach houses can cost up to 7 crores.
• There are villas in Goa that costs less as well. The price depends on the location, number of rooms, and property condition.
• You can even buy a villa in Goa for less than 1 crore.
• Homes in a secured complex or gated community can cost around 1 crore. A 2-bedroom house will cost between 10 and 20 million, depending on location, age of property, and size.
• Most apartments are priced around 5-7 million.

Property	Price
Row houses	20 to 30 million
Luxury villas	25 to 70 million
Homes	10 to 20 million
Apartments	5 to 7 million

North Goa is mostly an investment market, while the South generates interests for those who are seeking a home mostly for staying, perhaps letting out sometimes. North Goa is more popular with tourists, so there is a better potential for rental income. The South is more popular with affluent tourists, so you can fetch more per day, or sell off later to someone who is looking for peace and solitude.

Where To Buy Your Goa Villa

Goa can be divided into three regions –

• North Goa
• South Goa
• Central Goa

North Goa – The North extends from Querim Beach, next to the Terekhol River to the city of Panaji. The region includes popular beaches like Ashwem, Morjim, Anjuna, Vagator, Calangute, Baga, and Candolim. Calangute, Baga, and Candolim together make the most popular stretch in the state with the tourists. The Shanta Durga Temple, Museum of Goa, Kerkar Art Complex, Arpora Saturday Night Market, Anjuna flea market, the Olive Ridley turtle nesting site at Morjim, Chapora and the Aguada forts are also located here. The Salim Ali Bird Sanctuary is close to the beach.

• More popular with Indian tourists
• Vagator, Anjuna, and Ashwem popular with foreign tourists
• Many things to see and do
• Higher property prices compared to the South because of more popular beaches, high tourist demand, many restaurants, clubs, and shopping
• Good rental income
• Mapusa, Porvorim, Penha de Franca, Siolim, and Saligao are seeing a lot of real estate development

South Goa – The South extends from Canacona to the city of Vasco da Gama. The major beaches here are Palolem, Agonda, Cavelossim, Benaulim, Colva, and Majorda. There is also Margao, Goa’s second city, which is just 8.7 kilometers from Colva Beach. South Goa is peaceful, more pristine. There are fewer nightclubs here. Agonda has recently been ranked by TripAdvisor as Asia’s #1 beach for 2018. There is also the Betul Fort and a lighthouse.

• More popular with foreign tourists
• Colva Beach and some other places popular with Indian tourists
• Many tourist attractions
• Lower property and villa prices
• Good for a second home

Central Goa – This comprises of the two cities, Vasco da Gama and Panaji. Vasco is in the South Goa district, but it has more of a central location. The Goa International Airport and the port are located here. Panaji, which is also called Panjim, is Goa’s administrative capital. The city is on the Mandovi River. Our Lady of the Immaculate Conception Church and many other landmarks are located here. You will also find many casinos in Panaji.

• Fewer villas and more apartments in the cities
• There are some old houses for sale in Goa in these areas
• A few villas close to the beaches around Vasco da Gama and Panaji
• Dabolim in Vasco has seen the maximum property appreciation recently
• Many non-Goans are also settling down in Dona Paula.

Top 5 Property Types To Buy In Goa

There are many types of homes to buy in Goa –

• Luxury villas
• Beach houses
• Old houses
• Apartments in individual stand-alone constructions
• Apartments in communities or co-operative societies

The price depends on a number of factors – location, age of construction, quality of construction, and whether it is a premium or an average property. Typically, beachside and waterside properties and villas cost more. The number of bedrooms, amenities, and facilities on offer will also determine the price. You may have to pay a premium even for old properties, if it is immaculately maintained. Old colonial Portuguese villas and houses can cost more too because of heritage value.

Villas in Goa, apartments, and houses are available throughout the state. There are beachfront properties, homes within an easy walking distance from the sea, houses and apartments in the cities, and also properties in the interiors.

Who Can Buy Property In Goa

Citizens of India, NRIs (non-resident Indians), PIOs ((person of Indian origin), and foreigners can all purchase real estate in Goa.

Indian citizens	NRIs & PIOs	Foreigners
Indian citizens can buy directly or through an agent. Contact us and we can help you find a good villa, apartment or house in Goa.	All NRIs and PIOs can buy a villa in Goa. No special permission is needed from the Reserve Bank of India (RBI). However, there are a few special requirements. For instance, they need to have a PIO or OCI (Overseas Citizenship of India) card, and adhere to the current Foreign Exchange Management Act rules. Property buying for Indian citizens and foreigners living outside the country is governed by the Foreign Exchange Management Act or FEMA, 1999.	Foreigners cannot buy a villa in Goa or any other property as individuals, unless they meet residency requirements, as per the Reserve Bank of India Property Regulations, Master Circular of July 2013. But the purchase can be made by registering a company. Section 2 (v) (iii) of FEMA considers any business, office, or branch in India, controlled, claimed, or owned by a person residing outside the country as a property of that person.

Contact us and we can help you find a good villa in Goa. We have a huge database of good villas and other properties. We can negotiate with the seller, prepare the right documents, and close the transaction quickly, meeting all rules and guidelines.

Top 8 Reasons For Buying A Property In Goa

1. Good Living Conditions – The urban Indian cities are cluttered. There are too many people living in small spaces. In Goa, you can spread out easily. Life is easy going and relaxed. Few tourists between March and October, so the roads are empty. Most neighborhoods are serene and quiet, especially in the South. There is plenty of greenery all around, whether you are in the beach areas, the villages, or the interiors. In fact, there is very little pollution in Goa. Even the cities have more greenery than the average Indian city.
2. Culture – Goa is mostly Christian, and the culture here is different than the rest of India. The people are nice, friendly, and inviting. There is no resistance for an Indian from outside Goa or a foreigner buying up local property and settling down here.
3. Low Property Prices – Real estate costs are significantly lower in Goa compared to big metropolitan cities – Mumbai, Delhi, and Bangalore. So you can buy a much bigger villa or apartment or a property in a prime location for the same price you have to pay in these cities.
4. Rising Property Prices – Real estate prices are going up, which means now is a good time to buy property in Goa. Dabolim in Vasco da Gama has seen a 30% rise in recent years. You can buy now and resell later for a profit.
5. Good Rental Income – You can rent out your property and get handsome returns in the peak tourist season. Many foreigners rent for long stays, so they are always looking for holiday homes and luxury villas in Goa. The hotels and budget properties often are unable to offer accommodation because they are packed. The villas too are completely booked months in advance – such is the demand in November, December, and January.
6. Low Cost Of Living – Most basic items cost less in Goa compared to greater urban areas. Of course, this will depend on the area. For instance, the costs will be more in Candolim, Anjuna, Calangute, and Baga, which are all tourist hotspots. Prices elsewhere are much more moderate. The price drops even in the tourist areas after the peak season.
7. Good Infrastructure – Good economic condition and infrastructure makes life easy. There are markets, shopping malls, banks, ATMs, medicine shops, groceries, restaurants, bars, and nightclubs, all within easy walking distance. There is very little traffic, so commuting too is easy.
8. Great Weather – It never gets too hot or cold. The maximum temperature is around 36 degrees C, which is lower than most Indian cities. Delhi for instance sees 42-43 degrees every year. The humidity is also lower, which makes it more comfortable. The nighttime temperature rarely goes below 17-18 degrees C, even in the winter. Woolens are not needed here. There is a lot of rain because of the sea, but there is very little water logging.