24 Aug. 2005. The Daily Express (UK).
Roman Heindorff, Offers advice on buying in Goa.
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.
Indeed Goa - India's 'answer to the Costa del Sol', according to the Lonely Planet guide - has seen enormous development in the most popular areas such as central Calangute and Baga. But away from the main stretch of beach, the idyllic countryside and jungle foliage still retain an impression of 'old India'.
Second-home buyers looking for a holiday home with good rental value should take note of the rapid growth of the Indian economy. The rupee has rise in value by 12-13 per cent in the last year, part of which is due to the government's much-improved efforts to encourage tourism in India.
Harinder Sandhu, site manager for a development in Little Baga, sees this as an encouragement to westerners to get into India sooner rather than later, before its property goldmines become expensive and the bargains disappear.
"Over the next five to seven years, these investments opportunities will flourish," he said.
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Commenting on Goa's popularity among British and German buyers, Harinder points to the high standard of facilities offered by new-build developments, as well as the lifestyle: "The Goans enjoy themselves - they like a relaxed life as much as anybody in India."
Less metropolitan than Delhi, Calcutta or Bombay, the former Portuguese province looks, and feels, safe. Agricilture is the chief occupation with rice, fruits, coconuts, pulses, and cashew nuts the main crops.
There is nevertheless a cosmopolitan flavour to the devoutly Christian area resulting from the influence of its Portuguese settlers.
More modern western influences are also apparent - Subway sandwich shops are an example - and the local infrastructure has been improved to cater for greater number of foreigners. All this creates an intriguing blend of western and oriental lifestyles.
Transport is, however limited to reasonable roads and it is advisable to rent a car - preferably a 4x4 - in order to guarantee getting everywhere you want to go.
Weather conditions too play a part in deciding when to visit or how to invest - from May-September monsoon rains affect rental values and limit one's fun - swimming is not advised during this period.
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Buying Property In Goa
21 Aug. 2005.
50Connect (UK).
Claire Sutton offers advice on buying Goa Property.
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.
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