January 23, 2023
Goa is a small bustling state tucked away on India’s western coast. While it has been well-known for its tourism, it has recently garnered the interest of people looking to buy second homes. Living in Goa can feel like a dream come true. You have the rich, green countryside, the golden shores, fun nightlife, and access to quality infrastructure. However, it is no secret that the tourism-directed lifestyle has caused its cost of living to soar exponentially. That said, there still are plenty of smaller villages in Goa that are located on the periphery of its more popular regions and offer a comfortable lifestyle. Nevertheless, certain factors still affect the cost of living in Goa such as the unavailability of reliable public transport and quick-delivery services for groceries and other items.
Keeping that in mind, Here is a brief summary of the cost of living in Goa :
The first step to settling in Goa would be to rent or buy a house. Goa’s real estate encompasses a range of housing options, some of which offer glorious views of the fields, rivers, or the sea.
House rents in Goa usually start at ₹15,000 and go up to ₹45,000 depending on the number of rooms, whether the space is furnished or unfurnished, and its location. A 1 BHK in the city centre can cost you about ₹20,000 a month while one on the outskirts goes for about ₹13,000. Apart from that, if you are considering renting a bigger home or a 3BHK villa it can range anywhere between ₹30,000 (outskirts) to ₹40,000 (city centre).
If you want to buy a villa in Goa, the price starts at about ₹58,000 per sq. metre in the outskirts and can touch about ₹ 9,000 per sq. metre in the city centre.
Depending on where you live, you may or may not have to commute frequently. Apart from that, if you have any other transportation needs, the bus network might not be very efficient. People who depend on public transport in Goa often end up spending double the time it would have taken on a private vehicle. Owning your own mode of transport is crucial in the state so you don’t end up wasting any time commuting. As of November 2022, the price of petrol in Goa has touched ₹ 97/litre which is almost similar to the rest of the country.
If you don’t plan to buy a vehicle any time soon, renting one is the next best alternative. While two-wheelers go out for an average of ₹ 250-300/day and about ₹ 6000 per month, four-wheelers can be rented for around ₹ 1000-1200/day and about ₹ 20,000 per month. This however does not include the cost of petrol which you will have to bear separately.
Some other tariffs you need to know are:
Most local raw produce in Goa falls within an affordable range and depending on your needs, fruits and vegetables per month should not cost more than ₹ 2000 per person. Apart from that, Goans love their seafood and meat which varies between ₹ 300 per purchase (for 1 kg of chicken) to ₹ 1000 per purchase (for premium seafood like prawns or kingfish) depending on what you buy. Along with that, liquor is priced between ₹ 100 (for beers) to ₹ 2000 (most mid-range alcohol).
You can even go for more expensive spirits depending on your taste and budget. Apart from that, there are plenty of supermarket chains in Goa that provide groceries for decent rates. If you go to the local markets, you can find fresh produce for much cheaper as well.
Goa is home to some exclusive, fine-dining establishments and an active food space that continues to grow every year. However, tucked away in its secret corners, the local restaurants continue to offer a more personalised experience of Goan cuisine. Apart from that, several fast food chains such as Starbucks, KFC, Mcdonald’s, and Domino’s have popped up in Goa in the last decade. Depending on where you go, a meal can cost anywhere between ₹ 400 per person (Navtara, Bhonsle, Vinayak) to 1200 per person (Sakana, Mai, Cavatina, etc). Most cafes and other dining spaces all fit somewhere into this price range.
The cost of utilities is not very highly taxed in Goa and won’t exceed around ₹ 5000 per month. For instance, the cumulative cost of electricity consumption, water, and garbage comes to around ₹ 1500 for an average 85m2 apartment. Good internet connectivity can be more on the expensive side and costs an average of ₹ 800-1000 for a high-speed monthly broadband connection.
The above-mentioned costs may vary depending on whether you are a family, a working individual, or retired. They solely depend on the kind of space you live in, your location, and your overall monthly consumption. Apart from that, here are certain specific expenses that may be added depending on who you live with.
Goa’s educational space is still expanding and while the options for higher education might be limited, there are plenty of schools to pick from. The state offers partially subsidised education in government schools until class 8, after which the students will need to buy their own stationery. Apart from that, there are plenty of private schools you can enroll your child. An international Primary School can cost up to ₹80,000 while a month in private daycare can cost ₹10,000. The cost of higher education varies depending on the field and type of institution. However, it generally ranges between ₹10,000 to ₹80,000 per year.
If you are considering living in Goa, you might need a decent income in your hands to best enjoy everything it has to offer. While the cost of utilities and groceries isn’t too high, fitness services, shopping, and fine dining do require you to splurge a little, especially if you like indulging in luxury. Moreover, if you choose to live in a smaller village such as Reis Magos or Moira, it can exponentially cut down on your rent expenses. That said, whether Goa is an expensive place to live in or not entirely depends on where you live, who you live with, and what your hobbies are.
You may also like to read our blog post on how Goa’s new airport is boosting the demand for second homes in Goa and how to build your property investment portfolio.
What is the Cost of Living in Goa