The MOPA greenfield international airport is set to be launched and will surely boost the property prices in Goa. The new airport has increased the demand for various kinds of real estate property like mansions, resorts, hotels, etc. The prices for the real estate sector may boost by 25% – 30%. The properties and the land near the airport are currently evaluated at Rs. 6,700 sqft, and this is set to increase by 25% – 30% within a year’s time. However, till now, the CAGR has only seen a jump of 3.9%.
The demands for hotels, resorts, wellness centres etc., of which the investment is coming in from some of the major cities, is certainly going to soar. According to the sources, the North Goa region is currently the most preferred location for villas, luxury cottages, premium apartments, etc. Most buyers have come from Delhi, Mumbai, Pune, Bangalore, Chennai, etc.
Morjim, Anjuna, and Vagator beaches are some of the most popular beaches and will be more focused as the intensity of the national and international tourists will jump to a great percentage. Areas like Siolim, Mapusa, Assagao, Alto Porvorim, and other prime areas can see a real estate boom.
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The government started the construction of the MOPA airport in the year 2016. This airport will take off the load from the Goa International airport at Dabolim. The airport will have a whopping $4.4 million capacity in the initial stages.
According to a report, “The Indian HNIs and affluent class have always taken special pride in owning a row house or a villa in Goa. The North Goa region is an emerging real estate destination, drawing the attention of buyers in big volumes. The region is transforming into a bustling farmhouse, second homes, and a concept living destination as well.”
It is reported that we can expect a lot of offices, hotels, restaurants etc. within the vicinity of the MOPA airport.
