00:00In Undekha Nazariya, I, Ashish Atrey, welcome you to the show.
00:15What does a hardworking person need?
00:17A chill destination, a sun-soaked beach, a cone-can thali, and a laid-back lifestyle.
00:23And if you get this lifestyle with a good income, then life is set.
00:28That's what you must have thought, right?
00:30Now I'll earn money and buy a beautiful villa in Goa.
00:33And I'll spend the rest of my youth and old age there.
00:36Right?
00:581.5 million tourists.
00:59You know, all these foreign tourists are actually going to other Southeast Asian destinations.
01:04Yes, yes.
01:05In the past few years, Goa has become the talk of the urban town in the real estate market.
01:09But is it as promising in 2024 as many YouTubers and property experts claim?
01:16No, not at all.
01:18If you are thinking of investing your hard-earned money in Goa property,
01:22then first listen to my point of view.
01:24Then do whatever you feel like.
01:26Do you see this?
01:27In the past five years, property prices have almost doubled at premium locations like Asagaon, Wagator, Kalangut, and Anjuna.
01:36I have never seen so much property appreciation in such a short time.
01:40When I did deep research, I found three important reasons behind it.
01:473. COVID.
01:48Due to COVID and work from home, many professionals were able to deliver their work happily at Goa holiday locations.
01:55With really good productivity.
01:57Now these people are looking for housing here.
01:59Which can accommodate them and also generate some passive profit or passive income.
02:052. Goa as an event and vacation hotspot.
02:09Whether it's a fancy wedding or just a chill vacation with friends.
02:131. Growing commercial infrastructure.
02:16With the arrival of Mupa airport, Goa has become really accessible for both local and foreign tourists.
02:22Due to which, real estate and hotel giants like DLF, Lodha, Leela, and Oberoi chains have also decided to invest several hundred crores in this property post-COVID.
02:33The most impressive quality of Goa property market are these lovely pretty villas.
02:38These properties used to be available in the range of 50 lakh to 8 crore between 2010-16.
02:45But with growing attention on properties, they are now in 2024, broadly ranged between 3-12 crore.
02:53And if you get these villas during heritage, that is, during the Portuguese occupation, 100-150 years old, then you are in luck.
03:01But their value becomes 20-24 crores easily.
03:05Even after the lockdown, people's attraction to Goa did not decrease.
03:09And this trend increased the rental yield there a lot.
03:12What is this rental yield?
03:14Suppose you bought a property for 60 lakhs.
03:17You invested 4-6 lakhs in its interiors.
03:20And in a city like Delhi, Mumbai, Bangalore, you paid 30-40 thousand per month on rent.
03:25Then your yearly rental yield will be 0.5-2%.
03:29Similarly, if you bought a property in Goa and paid monthly rent on season, then you will get a yield of 5-12%.
03:39In off-season, rental charges reach 28-40 thousand.
03:42Season, i.e. October onwards, these prices reach 45-65 thousand.
03:47And New Year, around Christmas, it becomes 1-2.5 lakhs per night.
03:54Profit margins are really really high.
03:56Even if we consider 60% occupancy in a year, which you will not get in any other city.
04:02C.A. Sarthak Ahuja has released a very crisp information.
04:0610 years ago, 11.5 million tourists with 50% foreign tourists visited Goa.
04:12And in 2023, the number of foreign tourists have come down to just 1.5 million.
04:18You must have also observed that people's interest towards Goa has decreased over these years.
04:24Because somewhere or the other, Goa became a very cliched holiday spot.
04:28People are preferring rather alternate holiday spots like Pondicherry, Gokarna, Calicut, Kochi etc.
04:34On top of that, North Goa has already been quite infamous due to excessive commercialization.
04:40Locals are also very upset about this.
04:43Big builders have created inflation in the property market.
04:47I agree that Goa was once gold in terms of property.
04:51Due to its over-exploitation, now I feel that the game has turned.
04:56My sixth sense is saying that it is not that the property has been made so expensive,
05:01but the buyers are not getting it.
05:03Due to this, the Goa property market is being called booming and rich on social media.
05:08Builders along with many property managers are also proposing many combo deals.
05:13They will manage your property, make a profit from it and keep a big share of it.
05:19Which is again a shady deal according to me.
05:22My intention is not to scare you, but to warn you.
05:25If you seriously want to buy a property, then I would suggest you to do some footwork yourself.
05:31First understand why you want to buy a property.
05:34As a second home, as a passive income source or a mix of both.
05:39Once you have decided that, then make sure what is the environment around the location you are narrowing down.
05:46I mean what are the government regulations there, what is the take of the locals there and who are the other players.
05:51Do the price discovery yourself rather than going behind a talal.
05:55Do research on Goa property rights.
05:58Let me tell you a big inside thing that no one will tell you.
06:02For Goa property, dig deeper into Portuguese succession rights.
06:06Builders will not give you any conflicted property.
06:09For that, involve with a bank loan.
06:12With that, the bank will also check the background of the property itself and will help you finalize a safe deal.
06:18Friends, whatever you choose to do, invest in a way that this investment goes beyond monetary transactions.
06:25It should give you more returns in terms of experience and your own lifestyle.
06:30For that, you will have to do some footwork.
06:32If you liked this video, then don't forget to like, share and subscribe to the channel.
06:38I, Ashish Chhatre, will meet you in my next video.
06:41Until then, take care of yourself.
06:43Goodbye!
06:48Thank you for watching!
