The real estate market is expanding at an exponential rate. According to research conducted by Mordor Intelligence, a renowned market research company, the Indian luxury residential real estate market is projected to reach 101.92 billion US dollars by 2029. During the forecast period of 2024 to 2029, studies show the Compound Annual Growth Rate (CAGR) is expected to grow by 21.81 percent from an estimated 38.02 billion US dollars in 2024. A huge contributor to this segment’s growth is the luxury housing market.

The need for an elevated lifestyle, experiential ownership, diversification of investments, and increased earning potential are some of the key factors propelling this market growth. Another strong catalyst that helped catapult this industry to new heights was COVID-19. The pandemic saw an increase in the demand for homes outside of crowded cities. That, coupled with the bump in rental income and the long-term appreciation of property prices, further added to the current, premium real estate market expansion.

Non-resident Indians (NRI) and high-net-worth individuals (HNI), with their high spending capacity, have been largely putting money into premium real estate as a future investment. Big business families, CXOs, and start-up founders belong to this segment of HNIs. Moreover, with its already low loan rates, the banking sector helped boost this market during the pandemic.

Goa Taking the Lead in Luxury Real Estate

While, Delhi, Mumbai, Pune, Bangalore, Hyderabad, and Goa are regarded as some of the top locations for vacation homes in India, Goa is fast becoming one of the leading destinations. Places like Assagao, Anjuna, Aldona, Porvorim, and Siolim in North Goa have been witnessing a high demand for second homes and upscale properties. Goa, especially North Goa, now has increased accessibility with the opening of its second airport, which is located in Mopa. Moreover, the new Zuari Bridge and Atal Setu Bridge increase connectivity and accessibility, making travel much easier. Goa is set to welcome much more positive change that will drive the real estate market to new heights.

What to Look for in a Luxury Holiday Home in Goa?

With a finger on the pulse of this industry, several real estate developers have begun permeating the holiday home segment as successful and affluent people look to invest in second homes. Goa, as a sought-after destination for luxury villas and holiday homes, has real estate developers seamlessly blending luxury retreats, sustainable solutions, and community-centric living as some of the core aspects of today’s luxury properties.

Goa is the perfect destination with its capacity to embrace modernity yet maintain its rich cultural legacy and boast lush greenery.

Real estate developers have been designing and developing luxury villas and apartments within gated communities, where each property is equipped with amenities like a private swimming pool, landscaped gardens, recreational centres, solar panels, rainwater harvesting systems, superior interiors, and serene views. Most of these luxury properties are positioned in lush green localities with all the modern services, like healthcare centres, schools, and supermarkets, in close proximity. This approach makes it ideal for families, couples, and individuals alike looking to invest in second homes and upscale properties.

The increasing demand for luxury holiday homes has indeed influenced real estate prices in Goa. As per several realty analysts, online search trends reveal a rising demand for luxury properties equipped with a comprehensive suite of offerings in the 1 crore plus price range.

Ensuring Transparency

The Real Estate Regulatory Authority (RERA) was established in 2016 by the Indian Government in an attempt to promote the real estate market’s growth while safeguarding the interests of future homeowners. It introduces accountability and transparency through its guidelines, specifically tailored to Goa’s real estate market. Builders must register each project, meet the mapped-out timelines, reveal accurate project details, and efficiently manage funds. This government body envisions a steady rise in property values as the demand for holiday homes increases.

Having carved a niche in the luxury property development segment, we at Rainforest Estates are RERA-registered. Gaining a strong foothold in the Goan real estate market in the last decade, we are focused on building premium homes and elite communities through thoughtful design, integrated lifestyles, and a generous balance of green spaces.

Future homeowners looking to invest in Goa’s real estate market for holiday homes are not just acquiring properties; they are investing in a lifestyle that blends luxury with comfort, privacy with community living, and modernity with sustainability. You may like to read our blog posts on real estate trends to look out for in 2024.