Goa has quickly become a popular destination for real estate investments. In which parts of Goa to buy property is always a commonly asked question by many buyers. Although there is no definite answer to this, it is the coastal belts that are the most popular where investor looks at properties that can attract rental income from holiday goers and also appreciate in value over time.
Can a beach property be bought?
The Goa Coastal Zone Management Authority (GCZMA)restricts settlement of residential units close to the shoreline line demarcating a 150-meter stretch as CRZ or Coastal Region Zone. There are several structures already existing structures already exiting within the zone that you may notice but there are traditional structures where only repair can be carried out and new structures cannot be built.
Is buying a property in Goa a good investment?
The mainstay of the Goan economy is the tourism and tourism in Goa has been booming. A major driving force for investors to make a purchase here is to benefit from rental incomes. North Goa is where many investors look to make a purchase. From studio apartments to luxury beach villas, there are plenty of options to choose from.
Where to buy?
Undoubtedly it is the coastal clusters that are most popular as investments. These areas are filled with excellent nightlife, great food, and plenty of shopping. Something that attracts a lot of investors here.
What is the rental income that can be expected?
Rental income in the coastal areas can range from Rs. 25,000 onwards for a 1 BHK on a monthly basis in the beach belts.
What are the types of options available?
The most common are studio apartments as these are priced lower and are targeted in the budget-friendly category. There are also Portuguese houses that are in demand. These types of listings are found in Siolim, Assagao and Saligoa.
Can an NRI invest in Goa?
NRI and OCI’s are permitted to hold property in Goa.