by NADEEM BADSHAH
INDIAN HOLIDAY HOTSPOT LURES SAVVY PROPERTY INVESTORS
MORE Britons are moving to the Indian sunshine state of Goa to take advantage of the property boom, experts have revealed.
Investors are buying beach-facing apartments and villas in the popular holiday hotspot, which has 80 miles of coastline.
Analysts say migrants are flocking to the state in western India because of the smaller population and rent prices of £500- £1,000 a month – which is cheaper than crowded cities like Delhi and Mumbai.
Jaffer Kapasi, from the East Midlands Chamber business group, told Eastern Eye: “The property boom in Goa is attracting a lot of investors compared to other destinations.
“Gorgeous or spectacular and pristine sea-facing apartments and villas, wonderful people, a mix of village life and a tourist hot spot. More and more people are buying in Goa.
“For those who own a piece of Goan property, it’s boom time as the property value has appreciated, and is attracting more and more investors.
“Other destinations like Mumbai and other cities are heavily polluted and much more expensive and not having a relaxed lifestyle.”
Goa has a population of 1.5 million and is around the size of Devon. It has an average temperature of 30ºC throughout the year and the tourist season runs from November to February.
Kam Dovedi, a property investor who runs Premier Portfolio Builder, told Eastern Eye: “My experience with people in the UK is that they accumulated wealth through working hard, saving and those with more entrepreneurial mindset have created businesses specifically investing in property in the UK to gain capital growth and rental income.
“Like me, people have benefited from investing in the UK.
“This has improved their lifestyles and is now allowing them to be looking at investments further afield such as Goa.
“Goa is an ideal location for a holiday home, especially for those who have generated income from their property portfolio in the UK.”
Dovedi, whose parents hail from Panjab, added: “I noticed the opportunities when I visited Goa in May 2015. I worked to a specific formula to generate wealth and acquire assets and I train and mentor people on how you can do this.
“The golden rule is any fringe assets, experiences and material luxuries must come from creating capital and income through core investments in the UK. This allows you to explore further opportunities such as buying holiday homes in Goa.”
The Indian state was recently featured on BBC show Get Away For Winter.
Phoebe Brown, a yoga teacher from Brighton in Sussex, moved to the village of Arambol with her son Dunstan. She has a budget of £1,500 a month for a two-bedroom apartment.
Phoebe, who has arthritis, said: “They say 50 is the new 21. I have reached the time in my life where I have to make the best of myself with a positive attitude and wonderful environment.
“Warmth is really important for arthritic conditions, it gets much worse in the damp and the cold.”
“I wanted somewhere completely different, so it was Goa. Peaceful and relaxing.
“I am feeling really at home now. I have been spending huge amounts of time on meditation and yoga and going for long walks on the beach.”