North Goa may be the best option if you want to invest in real estate in Goa and make significant profits. The area is an investment-friendly destination because it attracts large numbers of tourists year-round and because properties such as villas, staycation apartments, and homestays are in high demand. So let us investigate the top three places in North Goa with the highest potential rental income.
One of Goa’s two districts, North Goa, is a well-liked tourist destination with plenty of space for sizable rental incomes. Mopa Airport and other infrastructure upgrades will help Goa develop. The region’s housing demand has been further positively impacted by the influx of industries and the start-up culture, providing investors with profitable opportunities.
Many localities rank highly in the liveability category, drawing in both end users and tenants with a wide range of property options available at competitive pricing. Let us find the most affordable places to rent in Goa.
North Goa’s best neighborhoods for the highest rental income
North Goa has a huge upside and nearly no downside regarding its rental income earning potential. Why do we say that? Go on to find out the response.
Calangute, North Goa
Calangute is a popular vacation spot, primarily because of Calangute Beach and other attractions like Aguada Fort. Due to this, there is a demand for vacation rentals and staycation apartments, which creates an opportunity to profit from investments through short-term rental income.
Calangute is one of the best places in North Goa for high rental income because of its closeness to business centers, which attracts long-term tenants like working professionals. Within a 5-kilometer radius are several industries, such as Maruti Industries, Steelmac, and Deepra.
Although the majority of the properties in Calangute are 1- and 2-bedroom apartments, the area also has residential lands, villas, and independent builder floors. The price range for a 1-BHK apartment is approximately Rs 41 lakh to Rs 1 crore, while a 2-BHK apartment may cost between Rs 82 lakh and Rs 1.5 crore.
The average property price in Calangute is Rs 10,000 per sqft. And the rental rate is Rs 14,000-16,000.
Real estate developers like Saldanha Developers Pvt. Ltd. and Pink Zebra Real Estate have chosen to establish their presence in North Goa due to the ongoing demand for real estate.
The social amenities that Calangute in North Goa provides also contribute to its livability. Popular hotels, shopping centers, and schools in around the area include:
- Educational Institutions: Green Meadows School and Narsaraopeta Engineering College are three kilometers away.
- Shopping centers: Valanka Shopping Mall and Calangute Beach Road Mall are nearby.
- Hotels: Nearby hotels are Candolim Grande Resort and Hyatt Centric.
- Hospitals and clinics: Yashraj and Bosio are two kilometers away.
- Attractions for tourists: Aurelio Pinto, Memorial Park, and Candolim Park are among the parks in the area; Calangute Beach, Baga Beach, and Aguada Fort are 7 km from the center.
Mapusa, North Goa
It is easy to commute in about 30 to 40 minutes because the industrial areas of Verna and Kundaim are 35 km away from the location via NH-66. Due to this, Mapusa has become a popular place for working professionals to live, which may be the main reason for the high demand for rentals in this area.
Mapusa is a posh housing town with 2-BHK homes starting at Rs 46 lakhs; monthly rentals range from Rs 22,000 to Rs 26,000. The location also offers 1 and 3 BHK apartments, with prices ranging from Rs 36 lakh to Rs 44 lakh and Rs 65 lakh to Rs 3 crore, respectively, in addition to the 2-BHK units.
Furthermore, Mapusa is among the greatest places to get the most rental income because of the abundance of amenities and flawless connectivity. Here are some of its main points, in brief:
- Simple Connectivity: Calangute-Mapusa Road, Mapusa-Moira-Aldona Road, and National Highway (NH) 66 provide interstate and city connectivity, respectively.
- Easy Travel: NH-66 connects Thivim Railway Station, Mapusa Bus Stand, and Goa International Airport, which are nine, four, and 37 Kilometers away, respectively.
- Educational institutions: Kupwara Public School, St. Mary, and St. Anthony, all within 4-6 km.
- Hospitals in the area include Holy Cross General, Kenkre, North Goa District, and Ankur.
Porvorim, North Goa
Porvorim provides easy access between Maharashtra and Goa and is located on the Mumbai-Goa highway (NH-66). Within a 10-kilometer radius are Pilerne Industrial Estate, Colvale Industrial Estate, and Goa Industrial Development Corporation, providing working professionals with easy access to employment opportunities and convenient commuting.
Its convenient location and abundance of business centers make it a valuable asset with excellent return on investment (ROI). The fact that this town is home to well-known developers like Syndicate Buildcon, Mohan Group, and Mehta Developers speaks volumes about the potential of residential properties and the rental incomes they can generate.
Residential apartments in Porvorim, North Goa, come with 1-2 and 3 bedroom layouts that start at Rs 38 lakh, Rs 70 lakhs, and Rs 1.19 crore, respectively.
The following facilities make it even more appealing as one of the greatest places in Goa to rent for the most money.
- Road connectivity: NH-66 provides interstate access to Maharashtra, while the Panvel-Kochi-Kanyakumari Highway connects Kerala with Maharashtra.
- Rail connectivity: The Karmali Railway Station, which is 17 km from the location, provides inter-city and inter-state rail connectivity to the Indian Railways.
- Holy Family Primary School, Blooming Bud, and Shiksha Niketan School are the schools.
- Colleges: Ann Institute of Hotel Management and Vidya Prabodhini College. Mandovi Hospital, Holy Cross General Remaso Hospital, and Chodankar Hospital.
- Aguda Fort, Candolim Beach, and Pilerene Sunset View Point are well-liked tourist spots.
It is among the greatest options for investors seeking a high return on investment (ROI) because of all these factors.
The positive aspects of the region that the residents have praised are the lifestyle, environment, safety, and connectivity.
In summary, North Goa’s Calangute, Mapusa, and Porvorim are some of the best places to find high rental incomes. Ensuring the same requires the provision of social amenities, ease of connectivity, and proximity to commercial hubs.
These locations also welcome tourists throughout the entire year. Investors can thus profit from both short-and long-term rental income. You should still speak with a licensed property consultant and conduct in-depth research to make the safest and best-informed decisions.