Goa’s Mopa Airport to send real estate prices soaring

With Mopa a=Airport soon to be operational, North Goa as well as the nearby Konkan region is about to get a spurt of real estate investments. The MOPA will be a growth multiplier for real estate demand in the nearby regions, which are already enjoying a bull run after the pandemic. As per research by real estate advisory 360 Realtors, property prices in the nearby region are set to jump. Just near the airport, where at present the average price is Rs 6,700/sq ft, properties could appreciate by 27.8% in the next 12 months. In the past four years, average property prices have risen at a CAGR of 3.9%. The jump in the prices will be rooted in increased real estate investment and rise in tourism following the start of the airport.

In the adjacent Sindhudurg region, which is also a sought-after second home and nature resort destination, average property prices might increase by 29.2% annually. At presently, the average price is Rs 4,921/ sq ft. Over the past four years, average property prices in Sindhudurg have grown at a CAGR of 6.8%.

The positive impact of the Mopa mega project will also cascade to other nearby regions such as Morjim Assagao, Siolim, etc, where the real estate demand will receive a major thrust.

See also:
$80 million home in Dubai purchased anonymously by Mukesh Ambani
Supertech twin tower gets demolished!