John

The Indian paradise of Goa is one of the most promising emerging property markets for investors according to overseas property specialist, David Stanley Redfern Ltd.

A sliver of land on India’s western coast, Goa has undergone somewhat of a transformation in recent years, shedding its hedonistic beach party tag in order to attract international investment. Although still a beach haven, property developers are flocking to take advantage of a new wave of overseas interest in the former Portuguese colony.

“Goa is really coming into its own on the international property market,” says David Redfern of David Stanley Redfern Ltd. “Although the market is in its infancy, we’re seeing a good range of developments being mapped out which are designed to cater for the international market.

“Capital growth in the state is rising year on year and rental returns are amongst the best of any emerging market. The cost of living is very low but the quality of life is high, making it an ideal destination for the buy to rent market.”

Despite being a tiny land of just 3,702 sq kms, capital growth in Goa reached 25% per annum between 2004-2006. This is set to soar by 15-20% in the next five years.

Regular daily flights from London Heathrow and Gatwick to India and a range of property types are responsible for this renewed interest in the sunshine state. Although the traditional beachfront properties are still plentiful, more and more constructors are building European style resorts complete with extensive leisure facilities and top quality fixtures and fittings.

The cheap cost of living is also reflected in property prices, with apartments in the Braganza World complex at Siolim starting from as little as £5520.

“Goa represents excellent value for money,” confirms David Refern. “Where else in the world can you buy a quality property for less than six thousand pounds? The rental returns are set to be very strong, making it a great location for investors wanting to build themselves a property nest egg.”