Bambolim Beach: The Most Preferred Destination for Real Estate Investment in Goa

Goa, the quaint coastal state of India, has been one of the most popular tourist destinations in the country, attracting hundreds of thousands of visitors each year. The sun, the sand, and the surf have been Goa’s greatest attractions along with its mild weather and colourful culture. Indian real estate investors have recently started to realise that this breathtakingly beautiful state has much more to offer than its natural bounty. Goa is soon turning into a preferred real estate investment destination too, particularly among those who are looking for a second home, a more luxurious and sprawling one.

Goa’s Real Estate Boom

Till about a decade ago, Goa’s real estate market saw an influx of investment from hoteliers who wished to set up resorts and hotels to accommodate the ever-increasing number of tourists to this holiday destination and from the NRIs (non-resident Indians) who seek to holiday back homebut enjoy the same mellow and relaxed lifestyle that they would have in any international seaside destination. Much has changed over the past few years, though. Homebuyers, particularly from the metropolitan cities of India and other Tier-I cities, have discovered the charm of investing in this little state where property prices are much lower than their home towns and the appreciation is much higher. This is at the core of Goa’s real estate boom.

The Ideal Second Home

Goa has been a vacation destination that attracts people away from the chaos and furore of the metro cities such as Delhi, Mumbai, and Bengaluru. Vacationers visit Goa multiple times a year – over the peak tourist season (August – October), during the year-end celebrations when all of Goa hosts the grooviest parties, during the Goa Carnival, and on other occasions. Accommodation rates are soaring with the increase in demand for hotels. Following the global trend of owning homes at popular vacation destinations, Indian home buyers, too, have decided to invest in a property instead of repeatedly renting hotel rooms and guest houses.

Renting Out

Investing in a second home in Goa gives home owners the option to let out their homes as vacation apartments and guest houses when they are not visiting. This adds an additional source of income which can go against paying off the home loan, creating an asset at the same time. The demand for short-term rentals in Goa is very high and a property near the beach is a very lucrative option.

WhyBambolim Beach?

Bambolim Beach is the perfect place to look for a second home. The pristine beautiful beach and the natural settings make it just right for those looking to get away from the urban hustle and bustle. Its location is10 mins from Panaji, the capital of Goa which allows easy access to all the comforts that come with living in the very heart of Goa. Bambolim is closer to the Goa Airport than any place in North Goa. It takes close to half an hour to get to the airport from Bambolim. It is this blend of beauty and comfort that has prompted major hotel chains to pick this location. Bambolim Beach is home to important hotels such as the Grand Hyatt Goa, Goa Marriott Resort and Spa, and Country Inn and Suites by Radisson, Goa Panjim.

Getting Ahead of Saturation

Investment in real estate properties requires a lot of research. An apartment in one of the older neighbourhoods of Mumbai is likely to cost a lot; the home loan may well take decades to pay off. By this time the value appreciation of the flat is likely to be negligible and the resale may not fetch the expected return on investment. A 2 BHK apartment in Goa, on the other hand, will appreciate quite a lot making it a great investment option. Property value saturation will take at least a few decades to set in, in a market like Goa.

Goa, and Bambolimin particular are great real estate investment destinations. More and more businesses are moving out of Mumbai and Pune and moving to smaller towns making them great avenues to explore employment opportunities. In turn, this also makes them a great real estate market.