Overseas Property

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Goa

Goa Property Still Good for Investment

Goa is not getting anywhere near the hype it was a year ago, but those that do pay attention will find that units from last year's off-plan developments, are now coming onto the secondary market, and selling for almost 50% more than they were last year.

Despite the price, the resale units are being bought just as readily, by those who want to see what they are buying, rather than take the risk of buying an off-plan development.

However, for those in the mood for taking a palpable risk, there are this year's off-plan developments coming onto the market at very reasonable prices. Though, property is worth massively more on the secondary market, the new off-plan developments are being sold now at not much more than similar off-plan units were being sold last year. And with those units now on the secondary market, as a guide to the kind of profit you can make in the space of a year, these new off-plan properties present a great opportunity.

Liam Bailey, Head of International Research for David Stanley Redfern gave us his analysis of the Goa market:

"Goa has proven itself as a place where you can make incredibly successful short-term property investments. We have sold units on the secondary market, for 40% more than we sold them as off-plan units. And you will sell on the secondary market, to someone who wants a risk free Goa property. But to be honest, if I was buying a Goa property, I would do so for a long term investment, because when the development scene has slowed down a bit, then sales in the secondary market will be a very easy event indeed, and by that time the value will have increased by even more.

"We have just recently added the first of their 2008 off-plan developments in Goa. We have been scouring the market since the beginning of the year, and only recently did we find a development and developer who could complete our stringent due diligence procedures. And so we now present to our clients the Sun Springs Development, a fully equipped and gated resort in a location central to all Goa's attractions and sites. For those after the security of a resale unit we have a three bedroom villa in the acclaimed Peace Valley resort, another fully equipped and gated resort in a great location."

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