Goa continues to witness a dramatic real estate upswing as residential property prices soared by 66.3% YoY, according to Magicbricks, one of the real estate platforms in India. This significant appreciation reaffirms the state’s growing prominence as a preferred hub for vacation homes, retirement living, and long-term rental investments.
The report highlights that despite this surge, average residential prices in Goa (Rs. 13,290 psf) remain competitive compared to tier 1 cities such as Delhi (Rs.18,618 psf) and Mumbai (Rs. 28,921 psf), positioning Goa as a lucrative destination for both self-use and investment purposes. Alongside the sharp rise in prices, residential demand in Goa has grown by 9.43%, even as supply declined by 9.87% over the past year—further intensifying competition for quality housing in key micro-markets.
Magicbricks’ data further revealed that Goa has cemented its position as West India’s premier affordable luxury market. Villas, which have seen rising popularity especially among high-net-worth individuals and NRIs, are priced at INR 19,400 psf on average. Independent homes are more modestly priced at INR 10,800 psf, offering a wide spectrum of choice for various buyer profiles.
Micro-market performance and buyer preferences
Among micro-localities, Porvorim, Candolim, and Caranzalem have emerged as clear favourites for homebuyers. Porvorim saw a price appreciation of 51.69% in one year, followed by Candolim at 42.79%, and Caranzalem at 9% over the last year. Porvorim, with an average price of INR 11,610 psf, is currently the most preferred area, accounting for 24.9% of buyer interest in 3BHK configurations. However, 2BHK homes dominate overall demand across these localities.
In terms of budget, residential supply in Porvorim (35.3%), Candolim (52.2%), and Caranzalem (63.8%) are largely concentrated in the INR 1–2 crore budget. Meanwhile, in Dabolim (52.5%) and Vasco Da Gama (65.2%), the most prominent supply lies in the INR 50 lakh to INR 1 crore bracket—highlighting strong mid-segment growth potential.
Investment outlook
Compared to other emerging markets in West India—such as Surat, Nagpur, and Indore; Goa has registered one of the sharpest increases in residential capital appreciation, underscoring its potential as a high-yield market. Strong tourism-led rental demand, ongoing infrastructure upgrades, and a growing appetite for premium living have made Goa a compelling market for end-users and investors alike.