Goa's real estate development is more lateral and in pockets across the state. Goa has had five major cities namely Panjim, Mapusa, Ponda, Vasco and Margao. These cities have been the crux of commercial and business activity for many years. There are plenty of options to choose from while searching for a apartment for sale in Goa, ranging from different localities to prices to various property types.
Although there exists residential structures here, new developments are very rare due to the limitations of space and most of the space remaining being used for commercial real estate. Residential structures here are quite old and lack modern amenities you see in most developments all around the place.
So as the need for housing increasing each year, real estate developers have begun to spread out to areas surrounding the city. Also, given the fact that the prices in the cities are much higher as compared to other parts and you end up buying an apartment that is at least 5- 10 years old, if not more.
2014 has seen developments that have spread out in areas around these major cities in Goa. Caranzalem in north Goa is a classic example of this fact. Although a saturated area development-wise, this place was merely a small village back in the nintes when development began, today the place is filled with sky rises and eventually prices took off with too.
Porvorim is the best area to highlight when it comes to such development. This suburb is considered the next place for most to buy an apartment to live in or to rent out. Development has spread towards all interiors and prices started taking off in early 2013. Being a 10 minute drive to the city and also the main access road to the beaches of north Goa a lot of businesses are stetting up shop as well. With the Government commissioning a flyover from Mapusa till Panjim added to this price rise apart from the fact that one of Goa's biggest mall will be up soon.
Ribander is expected to be the next such suburb that is expected to take off, with massive development already being commenced and prices as being much realistic here investors and locals alike have looking to get in early.
There also are places such as Siolim, Succor and semi-developed regions in Anjuna and Vagator seeing this transformation as well. There is a huge demand for housing in these areas due to the tourism value and the returns surrounding it as well.
All in all, these suburbs are options you should consider while buying your flat, as buying in the right areas would mean a comfortable place to live, property appreciation and also rental income.
Although there exists residential structures here, new developments are very rare due to the limitations of space and most of the space remaining being used for commercial real estate. Residential structures here are quite old and lack modern amenities you see in most developments all around the place.
So as the need for housing increasing each year, real estate developers have begun to spread out to areas surrounding the city. Also, given the fact that the prices in the cities are much higher as compared to other parts and you end up buying an apartment that is at least 5- 10 years old, if not more.
2014 has seen developments that have spread out in areas around these major cities in Goa. Caranzalem in north Goa is a classic example of this fact. Although a saturated area development-wise, this place was merely a small village back in the nintes when development began, today the place is filled with sky rises and eventually prices took off with too.
Porvorim is the best area to highlight when it comes to such development. This suburb is considered the next place for most to buy an apartment to live in or to rent out. Development has spread towards all interiors and prices started taking off in early 2013. Being a 10 minute drive to the city and also the main access road to the beaches of north Goa a lot of businesses are stetting up shop as well. With the Government commissioning a flyover from Mapusa till Panjim added to this price rise apart from the fact that one of Goa's biggest mall will be up soon.
Ribander is expected to be the next such suburb that is expected to take off, with massive development already being commenced and prices as being much realistic here investors and locals alike have looking to get in early.
There also are places such as Siolim, Succor and semi-developed regions in Anjuna and Vagator seeing this transformation as well. There is a huge demand for housing in these areas due to the tourism value and the returns surrounding it as well.
All in all, these suburbs are options you should consider while buying your flat, as buying in the right areas would mean a comfortable place to live, property appreciation and also rental income.