Goa has long been a beloved vacation spot and a destination for buying luxury second homes. In recent years, this beautiful state has become a hotspot for potential buyers and investors to secure property. However, many buyers find themselves at a crossroads, caught up between choosing a flat or villa in Goa. To dispel the uncertainty regarding property purchase in Goa and help you make an informed decision, we have compiled a list of benefits of buying a flat in Goa as well as villa in Goa. Further, this blog sheds light on crucial aspects every buyer must consider before investing in two of the most preferred property types in Goa – flats and villas.
Apartments in Goa
Many potential buyers seeking to buy property in Goa, choose flats as the preferred type of residential property. These flats are often located near the beach belt, offering easy access to beaches. They are also conveniently located near essential amenities like schools, hospitals, supermarkets and banks. For individuals, nuclear families, and expats, as well as those who do not require expansive living spaces, flats in Goa are an ideal property choice. Let’s take a look at some advantages of buying flats in Goa.
1. Cost-Effective
A 2 or 3 BHK apartment in Goa is certainly more cost-effective than buying a private luxury villa. To give you a rough estimate, a 2 to 3 BHK luxury apartment in Goa’s posh location like Candolim can be around ₹1.4 Crores to ₹2 Crores (approximately). A villa in the same location can easily go up to ₹5 Crores to ₹6 Crores. Hence, for buyers with a limited budget, it is wise to invest in a flat rather than a villa.
2. Conveniences
Flats in Goa often come with plenty of shared conveniences that improve the quality and standard of living. For example, Veera Prestige in Candolim offers 1, 2 and 3 BHK flats with several features to offer high quality of living. These facilities include a swimming pool, car charging points, lounge, pergola, clubhouse, jogging track, gym and yoga room, round-the-clock security and more. Having such facilities while living in guarded society, elevates the living experiences and offers peace of mind to the residents.
3. Location
As mentioned earlier, flats in Goa are situated in prime locations with access to a plethora of urban civic amenities. These civic amenities include banks, hospitals, schools, supermarkets, restaurants and cafes, offering residents a well-rounded urban living experience. These amenities are essential and contribute to the social, cultural and economic well-being of the residents.
4. Gated Community Living
Flats in Goa are nestled in gated societies, offering conducive space to socialise and interact with fellow residents. Residents enjoy festivals and events together invoking the spirit of community and social togetherness.
Suggested Read: Benefits of Living in a Gated Community in Goa
5. Rental Income
Goa, being one of the most popular destinations, witnesses high demand for rental apartments in prime locations, especially in the peak tourist season. If you buy a flat in North Goa to generate rental income, it is convenient and easier to rent out an apartment and earn high secondary income.
Villas in Goa
For high net worth individuals and ultra high net worth individuals, luxury villas in Goa are a preferred option when buying property. These villas are located in close proximity to nature, away from the hustle and bustle, offering privacy and exclusivity to the residents. Choosing a villa is ideal for you, if you prefer an exclusive lifestyle and an expansive space. When you buy a villa from a reputed builder in Goa, you get to luxuriate in special services and offerings like private swimming pool, car parking, terrace with bar counters and more. Learn more advantage of buying a private luxury villa in Goa:
1. Privacy and Space
Buying a villa in Goa will certainly offer you more privacy and space than an apartment. Villas in Goa are generally built with an indoor-outdoor design technique which makes the living space more expensive. Additionally, a spacious patio, porch, swimming pool and backyard also provides ample space to relax without any interruptions or distractions. It gives enough room for wellness and recreation.
2. High Standard of Living
Buying a villa in a prominent holiday destination like Goa is a dream for many individuals. Not only does it add to one’s social status and prestige, but it also offers a higher standard of living. Villa owners can delight in a luxurious living experience with sophisticatedly designed homes and interiors that speak the language of opulence and meticulous craftsmanship.
3. Posh Location
Villas in Goa are generally located in a scenic and tranquil setting. Such properties are away from the tourist commotion yet close enough to access all the amenities. Luxury villas nestled in posh locations like Saipem, Parra, and Calangute offer the best of both worlds. For example, Veera Ememince, located in Saipem, offers a serene setting, overlooking the Nerul River and lush paddy fields. One can relish the charm of opulent living in a calm and peaceful environment.
4. High ROIs
If you buy a villa in Goa for a long term investment purpose, it is likely to give a higher return on investment than an apartment. The high ROI results from exclusivity and luxury living. Such villas are attractive to high-end buyers looking for vacation rentals in Goa. The rental income in peak tourist months alone can fetch you a considerable amount of money.
5. Peaceful Indoors and Outdoors
The natural surroundings of the villa contribute to both peaceful outdoor and indoor environments. Indoors, natural lighting, ventilation, high ceilings, well-designed wall layouts, and spacious rooms create a tranquil atmosphere. Outdoors, spacious balconies, gardens, terraces, and undisturbed pool areas offer a relaxing retreat, ideal for those seeking peace and quiet.
Considerations for Potential Buyers
Before buying property in Goa, there are some considerations every discerning buyer should undertake. Let’s briefly take a look at some of the considerations.
1. Purpose of Investment: Purchasing a luxury property in Goa is not an everyday affair. As a buyer and an investor, it is crucial to know the purpose of your investment. It is wise to determine whether you want to invest for personal use, long-term appreciation or generating rental income.
2. Budget: The second important consideration is budget. Based on the market value of your desired property, determine your budget and financing options. If you have a budget of under ₹2 Crores, investing in an apartment will be more favourable and if you aren’t restricted by a fixed budget, consider investing in a villa with a reputed developer.
3. Market Trends: As a potential investor, research the current real estate trends and future residential and commercial developments in Goa. Properties in touristy locations of North Goa may witness a higher demand and price.
Suggested Read: Top Reasons to Invest in Goa’s Real Estate Market in 2024
4. Lifestyle Preferences: Determine whether your lifestyle preferences align with a community living that comes with apartments or whether you seek exclusivity, luxury and privacy. Based on your personal taste and preference, make your property purchase accordingly.
5. Resale Value: Before making a final decision, consider the resale value of an apartment or a villa in Goa. The appreciation potential for a villa is generally higher especially in areas like Calangute, Saipem and Parra.
The decision to buy an apartment or a villa in Goa depends on various considerations. Both types of properties offer distinct advantages. If you desire a community experience with shared conveniences, an apartment in Goa might be the right choice for you. On the other hand, if you seek exclusivity and are looking for higher returns on investment, consider buying a villa in Goa. Consult with our experts at Veera Developers Group to determine the best property for your investment.