Goa’s second airport at Mopa named after late Chief Minister of Goa Manohar Parikar was inaugurated by Prime Minister on Sunday. Will this further boost Goa’s real estate market?
Here’s what the experts of real estate market have to say.
Samir Saran, Managing Partner, India Sotheby’s International Realty
As a full-service airport with domestic and international flights, along with freight services, the Mopa International Airport is undoubtedly an excellent addition for the all-round development of Goa. We are convinced the inauguration of this second airport in Goa will add immense value to a state which is increasingly becoming desirable for not just for tourism, but for a higher quality of life.
At India Sotheby’s International Realty, we’ve seen a huge spike in demand for residential homes in North Goa, anticipating the new airport infrastructure and we’ve closed a record number of transactions between 2021 and now. We only expect this momentum to strengthen, as the airport becomes fully operational in phases and more airlines announce their flights to Mopa.
Taha Ansari, Managing Director, Project Management (Developer Relations), Colliers India
“With the inauguration of New International Airport at Mopa by Honourable Prime Minister on Sunday, 11th December 2022. MOPA Airport is situated in North Goa, 35 Kms from the capital city of Panjim connects both North as well as South Goa. This completely connects entire Goa to the world for Aviation service accessibility, opening opportunities of comprehensive growth for entire Goa, by increasing cargo handling capacity, augmentation of Passenger handling capacity thus promising growth opportunities for all sectors in Goa like Real estate, Hospitality and Industries. The addition of this new airport not only gives tourist an optional preference to select their landing and departing options on basis of their time duration and preferred location of travel across Goa.”
Anupam Rastogi, Co-founder and CBO-NRI Sales, Square Yards
Goa’s new Mopa airport is a significant milestone for the tourist destination and will be a growth multiplier for real estate development especially in the North Goa hinterland as well as the nearby Konkan region. Goa has always been a haven for second homes, villas and farmhouses and this new transport connectivity with the globe will add to the trend and create a windfall in real estate investments. Demand for luxury cottages, row houses and premium apartments are most likely to soar in the coming months as NRIs and well-off Indians take a special pride in owning a property in the beach paradise. Further, the buzz about this new airport will inflate both real estate and rental prices in and around North Goa. Though property prices have already surged since the construction of the airport, a fresh spike is expected once the airport becomes operational in 2023, something that will auger well for real estate investors keen to buy a property there.
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