– by Mr. Vikrant Naik
The earnest desire of the millennials to log out of the choking, polluted and hectic city life and hit refresh in a serene space in the lap of nature is what has made holiday homes or dual homes a hot trend today. And undoubtedly, Goa, India’s tourism capital, has become the most sought-after destination for the investors to invest in a holiday home. With its package of the aesthetic pleasure of the blue sea, white sand and serene locations, the charming taste of vintage architectural diversity, exciting flea markets, great weather, lovely water-sports, awesome food, carnivals, Goa has become a lucrative market for dream dual homes to spend a lazy weekend with friends and families.
While earlier, only hotshots and celebrities were seen investing in holiday homes in Goa, the pattern of investors has seen a remarkable shift over the recent past. The latest data has shown that the millennials from the upper-middle class and middle-class are earning handsome packages that have fueled their investment potential and pushed the holiday home market with a strong double-digit annual growth rate with demand coming from both salaried professionals as well as those from business backgrounds. These investors mostly prefer a dual home that offers a getaway from the din of the city and yet has hassle-free access to all amenities for a luxury living and Goa has it all.
Interestingly, Goa has become the hotspot for holiday home investors from all metros such as Delhi, Mumbai, Bangalore and down south. Apart from its beaches being the trump card, Goa’s environment-friendly expansion, state-of-the-art infrastructure and the option of renting out the holiday homes provide the investors with an added advantage. Here is why Goa has emerged to be the first choice for millennial dual home investors.
Goa generates potential rentals: Goa is one of the most popular tourist destinations in the country among both foreigners and Indians, it increases the potential to generate good rentals for holiday home investors. It’s the quiet charm, an abundance of nature and party tag play a vital role in generating profitable rentals out of holiday homes.
Holiday homes preferred for flexibility and long stays guarantee capital appreciation: Investing in holiday homes in Goa is the smartest move a millennial can make. The reason, international tourists who visit Goa for a prolonged duration find holiday homes to be more convenient over hotels. With a large number of tourist footfall during the peak seasons, the hotels fail to accommodate tourists who come for longer stays that compels them to rent a holiday home. Also, holiday homes provide more flexibility and privacy to tourists that serve as the icing on the top to invest in a dual home, promising capital appreciation for the investors.
Well-manned law and order is a push for investors: Goa is a safe place, thanks to its well-maintained law and order system that provides an added advantage to the holiday home investors. Safety has never been an obstacle to increasing influx of tourists, national and international, offering prime time and maximum returns to the investors.
Improved infrastructure has made Goa fertile for investors: Goa has been on the spree of infrastructure development over the last few years. It has witnessed whopping investments made by the government on its roads and has come up with standard highways, hospitals, and schools off late roping in higher returns on investment in the dual home space, capital appreciation and higher resale values.
Growing commercial hub makes Goa the holiday home destination: Goa has turned out to be a commercial hub in the recent past, thanks to the influx of tourists from across the world who visit Goa to relax, detox and recharge themselves for months. With malls, cafes, shops and retail establishments sprawling up almost everywhere, Goa happens to be one of the eye-catchers for dual home investors.
To sum up, Goa with its charming landscape, improved infrastructure, well-tackled law and order, growing commercial market and gastronomy hub and trustworthy capital appreciation, has emerged as the most promising destination for holiday home investors, NHWIs, NRIs, and middle-income groups alike.
*The author Head of Sales & Marketing, Bennet & Bernard