- January 3, 2021
- Posted by: Planet Goa Team
- Category: Homes & Realestate, Lifestyle & People, Trending
Because of the COVID 19 pandemic and relaxed work from home policies in 2020, Goa emerged as a key holiday home destination in India. It is now the top choice for luxury real estate buyers because of work from home policies which have created a shift in living patterns of working professionals. 2020 was the year of the outbreak of the COVID 19 pandemic, but it was also the year where numerous working professionals moved to other cities for extended trips. Not having to go to work on a daily basis, meant that work could be managed remotely from luxury travel destinations.
The demand for luxury housing in Goa has increased in the second quarter of 2020. Luxury housing demand in Goa is also expected to rise in 2021. Here are some other housing trends you need to know in Goa before buying your next luxury home.
Holiday homes are now turning into primary homes
because of the pandemic, people are moving away from crowded cities like Mumbai, Delhi, Pune, Kolkata and others and they are moving to less crowded and more pristine locations for extended durations of time. People with holiday homes in Goa have shifted to Goa since the pandemic started. With pristine houses overlooking the beach waves, a pool to relax in and wonderful sunlight to bask in, Goa has emerged as the top destination where people want to buy their holiday homes. Since businesses will be on a steeper path to recovery in 2021, it is likely that consumer demand for houses in Goa will rise further. There are many consumers who have moved from their main homes in cities like Bombay to their holiday homes in Goa for over 6 months. The flexibility of work from home policies during the pandemic has helped people get a taste of an alternate life they have always wanted to explore.
People are buying larger holiday homes in Goa
Since, people are moving into their holiday homes in Goa for longer durations, they are also seeking larger holiday homes. They are willing to invest more money for swimming pools, gardens, fancy interiors and mesmerising beach facing villas because they expect to stay there for longer. Home buyers are less worried about maintaining their holiday homes because they expect to keep visiting throughout the year. In 2021 too, most businesses have announced flexible work from home policies. It is very likely that professionals will live in Goa over extended durations of time in 2021 too. Hence, buying larger homes is the best choice of investment.
It is easier to put luxury homes on rent in Goa, even during the pandemic
Pandemic or not, Goa is one destination which sees tourists all year round. The beach shacks, cafes, local portuguesse architecture and laid back lifestyle attracts people to the destination. With warm sunlight and the best nightlife, Goa luxury homes attract consumers which want to rent villas all year round. Hence, a luxury villa in Goa attracts income for the buyer all year round. Since there are rentals which are ongoing often, the maintenance costs are also recovered more easily. 2021 is likely to be the year where rental prices in Goa are higher because of higher demand.
Home buyers know that Goa promises a better lifestyle
Goa has always been a promise of a better lifestyle. Laid back beaches, mojitos, small shacks on beaches where you can meet strangers and learn about their culture, a bustling foreign community and clear skies overlooking the horizon. Goa is the destination which carries the promise of a different life. Often while living in the hustle of cities like Mumbai, people forget what it means to be relaxed. Goa is often a reminder of the alternate lifestyle which could be. The pandemic has made it easier to get a touch of the better life. As businesses will be set on a road to recovery in 2021, it is likely that people will carry forward their learnings from 2020. Leading a better lifestyle will be important to home buyers and Goa will be a leading destination in 2021.
Home buyers are looking forward to buying more luxurious homes in Goa in 2021. They want their homes to be larger, planned with more amenities and great views. Goa’s promise of a better lifestyle is key to their buying decisions.
The author of this article is Mr. Suraj Morajkar, Managing Director at Sun Estates. Sun Estates builds luxury real estate in Goa.