International property investors seeking risk free properties in Goa are pushing up the prices of last year’s off-plan developments, according to real estate agents.

Units from last year’s off-plan developments are selling at between 40% and 50% on the secondary market, it is reported.

And this year’s off-plan are selling now at not much more than similar off-plan units were being sold last year.

‘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,’ confirmed Liam Bailey, Head of International Research for David Stanley Redfern.

‘And you will sell on the secondary market, to someone who wants a risk free property in Goa. But to be honest, if I was buying there, 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,’ he added.

Goa is still incredibly popular, especially with British buyers. They are attracted by the warm climate, clear beaches and low cost of living. It is reported that a couple can live well on under £700 a month including food, utilities, car, chauffeur, entertainment and taxes.

So those looking to retire or at least spend the winter months in Goa are among the highest spenders in the former Portuguese colony. ‘The resale market shows a good profit can be made,’ added Mr Bailey.

Many of the off-plan properties are in gated resorts with swimming pools and security. ‘We are getting just as many enquiries as ever,’ said Sharon Ashok, of Go India.

When I first got involved in real estate here seven years ago there were only a trickle of inquiries from serious investors. It is the growth of the off-plan market that has put Goa firmly on the international property circuit,’ she added.

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