Supplement to Newsletter
Edited by Eddie Fernandes,
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Guide To Buying Property in Goa
Summary of News Items

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Some Press Reports

24 August 2005

Indian investment is a Goa
By 24 Aug. 2005. The Daily Express (UK). Roman Heindorff offers advice on buying in Goa. Summary: 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. Second-home buyers looking for a holiday home with good rental value should take note of the rapid growth of the Indian economy … Goa's popularity among British and German buyers … The Goans enjoy themselves - they like a relaxed life …Older properties are hard to come. 724 words. For text and photos click here and use the magnifying facility (bottom of the screen).

21 August 2005
Going, Goan, Gone: Buying Property In Goa
21 Aug. 2005. 50Connect (UK). Claire Sutton offers advice on buying in Goa. 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. 640 words.For full text click here.

20 June 2005
Foreign Property-Hunting Picks Up in Pace, Gains
St. Petersburg Times (Russia) , 20 June 2005. By Yekaterina Dranitsyna. Excerpts:

In addition, interest is expected to increase in property at exotic destinations, such as Thailand and Goa, where riskier conditions offer very impressive returns on investment.
"This year Goa authorities let non-residents own real estate and land. The region became very popular and prices increased two to three times," Kazansky said. Full text at

15 June 2005
Goa: Property Market
15 Jun: The Independent (UK). Five years ago, the Indian property market was one that went right under the overseas investors' radar. A build quality that was variable at best, and at worst downright shoddy, poor infrastructure, economic uncertainty and a host of regulations to restrict non-Indian buyers were among the reasons that most property hunters looked elsewhere, despite temptingly low prices. There has been a sea change among buyers looking for a perfect holiday home due, in part, to the fact that even beachside properties still sell for what seems like silly money compared with Europe and Asia.

In Goa, which has a British expat community of about 5,000 and a growing number of British buyers, it is possible to pick up a two-bedroom apartment for less than pounds 30,000, albeit by going through a number of hoops to secure it. Compared to Phuket, Thailand, where a beachside apartment is currently on sale for pounds 190,000, or the Costa del Sol, where pounds 150,000 might be a realistic figure, it's a steal. Yet the real boost to the Indian housing market, and what could lead to a relaxation in the country's protectionist property laws, has been the influx of multinational companies and their money. Full text at:

Goan places with the neo-colonials The small Indian state, redolent of the age of Empire, is attracting a new wave of foreigners. 14 May. The Daily Telegraph (UK) Excerpts:
…laws make it far more complicated for foreigners to buy than for locals… We bought through Acron and it was stress-free… In order to be eligible to own property in Goa, one must spend 182 days of a financial year in the state… buying to rent is illegal … the only way to do it is to register as a business…the value of foreigner-friendly homes in Goa has been rising by about 15 per cent a year for much of the past decade, so that a modern beachfront villa with three or four bedrooms now costs about £120,000.
One of the sought-after colonial houses, with five bedrooms and servants' quarters, in its own grounds, will be about £180,000; although you can get an inland bungalow with two or three bedrooms for £50,000. For full text, 878 words, click here

13 Feb. 2005
Beach house or clifftop casa? Everything you didn’t want to know about buying a holiday home in Goa, 13 Feb. 2005, Financial Express. (India). By Srikumar Bondyopadhyay. Excerpts:
Now that Goa’s been discovered by Indians, city types are scouring the scenic state for a piece of their own. Buyers these days, however, are not only looking for prime beach properties, but also old Portuguese bungalows and estates in villages three to four kilometres away from the beach. 865 words.

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