Guide
To Buying Property in Goa
Summary of News Items
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Press Reports |
24
August 2005 |
Indian investment is a Goa
By 24 Aug. 2005. The Daily Express (UK). Roman Heindorff
offers advice on buying in Goa. Summary: For more
than three decades, property in Goa has attracted
westerners with a taste for low-risk investments
and the tantalising oriental lifestyle that it offers.
Second-home buyers looking for a holiday home with
good rental value should take note of the rapid
growth of the Indian economy … Goa's popularity
among British and German buyers … The Goans
enjoy themselves - they like a relaxed life …Older
properties are hard to come. 724 words. For text
and photos click
here and use the magnifying facility (bottom
of the screen).
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21
August 2005 |
Going,
Goan, Gone: Buying Property In Goa
21 Aug. 2005. 50Connect (UK). Claire Sutton offers
advice on buying in Goa. Summary: A mixture of cultures,
excellent climate and a laid-back lifestyle, Goa could
be the next big overseas property destination …
you can have a maid for £24 a month… Cheap
property is also a major draw as well as the friendly
people … the crime rate of Goa is also considerably
lower than most places in Britain … Property
prices have risen dramatically this year. I think
they will double in the next 2 years. In five years
I really wouldn't like to guess how much they could
increase by … If you are buying simply as a
holiday home or investment, go for it sooner rather
than later. 640 words.For full text click
here. |
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20
June 2005
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Foreign
Property-Hunting Picks Up in Pace, Gains
St. Petersburg Times (Russia) , 20 June 2005. By Yekaterina
Dranitsyna. Excerpts:
In addition, interest is expected to increase in property
at exotic destinations, such as Thailand and Goa,
where riskier conditions offer very impressive returns
on investment.
"This year Goa authorities let non-residents
own real estate and land. The region became very popular
and prices increased two to three times," Kazansky
said. Full text at
http://archive.sptimes.ru/archive/times/1080/news/b_16077.htm
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15
June 2005 |
Goa:
Property Market
15 Jun: The Independent (UK). Five years ago, the
Indian property market was one that went right under
the overseas investors' radar. A build quality that
was variable at best, and at worst downright shoddy,
poor infrastructure, economic uncertainty and a host
of regulations to restrict non-Indian buyers were
among the reasons that most property hunters looked
elsewhere, despite temptingly low prices. There has
been a sea change among buyers looking for a perfect
holiday home due, in part, to the fact that even beachside
properties still sell for what seems like silly money
compared with Europe and Asia.
In
Goa, which has a British expat community of about
5,000 and a growing number of British buyers, it is
possible to pick up a two-bedroom apartment for less
than pounds 30,000, albeit by going through a number
of hoops to secure it. Compared to Phuket, Thailand,
where a beachside apartment is currently on sale for
pounds 190,000, or the Costa del Sol, where pounds
150,000 might be a realistic figure, it's a steal.
Yet the real boost to the Indian housing market, and
what could lead to a relaxation in the country's protectionist
property laws, has been the influx of multinational
companies and their money. Full text at:
http://money.independent.co.uk/property/homes/story.jsp?story=646878
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Goan
places with the neo-colonials The small Indian state,
redolent of the age of Empire, is attracting a new
wave of foreigners. 14 May. The Daily Telegraph (UK)
Excerpts:
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…laws make it far more
complicated for foreigners to buy than for locals…
We bought through Acron and it was stress-free…
In order to be eligible to own property in Goa,
one must spend 182 days of a financial year
in the state… buying to rent is illegal
… the only way to do it is to register
as a business…the value of foreigner-friendly
homes in Goa has been rising by about 15 per
cent a year for much of the past decade, so
that a modern beachfront villa with three or
four bedrooms now costs about £120,000.
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One
of the sought-after colonial houses, with five
bedrooms and servants' quarters, in its own
grounds, will be about £180,000; although
you can get an inland bungalow with two or three
bedrooms for £50,000. For full text, 878
words, click
here |
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13
Feb. 2005 |
Beach
house or clifftop casa? Everything you didn’t
want to know about buying a holiday home in Goa, 13
Feb. 2005, Financial Express. (India). By Srikumar
Bondyopadhyay. Excerpts: |
Now
that Goa’s been discovered by Indians, city
types are scouring the scenic state for a piece of
their own. Buyers these days, however, are not only
looking for prime beach properties, but also old Portuguese
bungalows and estates in villages three to four kilometres
away from the beach. 865 words.
http://www.financialexpress.com/fe_full_story.php?content_id=82481
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