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Residential real estate in the international tourist haven of Goa is something every investor love to park their money. After all, who does not want a beautiful sea side cottage surrounded by stunning natural beauty!
In any case, before talking about property markets in Goa, we must understand its geography and demography. Goa, which was formerly a Portuguese colony, was divided into two districts North Goa and South Goa.
The capital city of Panaji Goa, is the administrative capital of State and is also the headquarters of North Goa. At the other extreme, Margao is the first shopping center in South Goa state, and is the county seat.
Real Estate Scenario
In regard to the property markets of Goa, the north side witnesses as more active than the south. First, is the development of the infrastructure turns out to be the advantage for North Goa, while the regulated development in South Goa is complemented by its burgeoning hospitality industry, receiving a 4 / 5 star luxury hotels and resorts.
Scattered development is seen in residential real estate in Calangute, Mapusa and Caranzalem of North Goa. However, Panaji has restricted the real estate development as it comes in the rules of the Economic Development Council (EDC), due to its heritage status. However, the same way has been prepared for the development of Porvorim, Panaji satellite city, and a lot of real estate projects have been advances in the area.
Property values
On average, capital values for an apartment between hover R 1.80 million and 3.0 million rupees. Although there is limited availability of houses, Luxury villas are sold anywhere from Rs 20 million Rs 30 million.
The values of rental apartments in Panaji are at Rs 2500-Rs 3,000 square feet, while the same in Calangute is between 2,000 rupees and 2,500 rupees per square foot.
For more details on Goa Properties, log on magicbricks.com
