PANAJI
Digital real estate platform Housing.com is planning to make inroads into the Goa market. As part of its comprehensive business expansion strategy, Housing.com recently organised a meet-and-greet event in Goa bringing together real estate developers and property advisors and providing them with a platform to network, exchange insights, and stay updated on the latest industry trends, technologies, and best practices.
Online homebuyer activity in Goa indicates a high demand for villas and apartments, closely followed by plots. Homebuyers are looking for properties that offer a blend of comfort, convenience, and a modern lifestyle.
In terms of configuration, there is a clear preference among consumers in Goa for spacious yet manageable living spaces. The majority (45%) of homebuyers are specifically looking for properties with a 2-BHK (bedroom-hall-kitchen) configuration. This trend highlights the desire for comfortable and functional living spaces that cater to the needs of families and individuals alike. Furthermore, the sweet spot for property purchase in Goa lies in the range of Rs 1-3 crore, signifying a growing market for premium properties in the region.
Amit Masaldan, national business head of Housing.com stated, "We plan to expand our reach into Tier-II markets across India, like Goa, that has witnessed a remarkable surge in interest from investors and people from metros looking to invest in holiday homes or upgrade their lifestyle."
Stating that with the rise of remote work opportunities, many individuals have chosen to move away from busy cities and embrace the serenity and beauty that Goa offers, Masaldan added, "Our objective is to become the go-to search and discovery platform for the people of Goa.”
“The pandemic has accelerated the adoption of digital tools and online demand. Since commencing operations in Goa in 2022, we have witnessed remarkable growth and we are confident that this upward trend will persist,” said Masaldan.
Ankita Sood, head of research at Housing.com highlighted that despite the pandemic, the demand for first-time homes and second homes has soared, driven by high rental yields and long-term growth potential.
“Micro markets in Porvorim, Assagao, Siolim, Vasco, Anjuna, and Salcete are experiencing increased interest among both investors and end users,” said Sood.
Stating that the market is evolving with major supply-side players entering the space, drawn by the substantial increase in demand in recent years, Sood added, “We now see the emergence of new formats, including farmhouses, gated villas, and cottages, reshaping the market.”
“The rise of remote work, hybrid models, and ‘workcations’ has also fuelled the demand for long leases and rentals which is adding to the attractiveness of Goa's property market, thus attracting not only young buyers with disposable incomes but also NRIs and HNIs.”
