Most of the new launches are in the residential and commercial sector, with only 6% of the new projects expected to focus on retail. Not surprisingly, the state has become a retirement destination, with 43% of Goa developers toying with the idea of venturing into senior citizen housing.
The findings are part of a nationwide survey conducted by CREDAI. Real estate stakeholders have said sentiment and sales could pick up if the Center enhances ease of doing business for the construction industry.
In Goa, only 24% of builders said they are excited about the sale in 2022. The report said 38% of builders surveyed in Goa have “conservative” estimates for turnover and 38% remain cautious about industry growth.
Considering the huge demand for housing in Goa, it is not surprising that 63% of builders prefer to focus on residential projects. The survey also said that 28% of builders want to focus on commercial projects and 6% on retail locations. Despite the shortage of warehouses in the state, only 3% of builders are willing to explore warehousing projects in the state.
“The report outlines the top concerns of the developer community, including controlling input costs, introducing credit inputs on GST, increasing availability for funding, streamlining projects and speedy approvals, maintaining the upbeat sentiment. require immediate intervention and encourage them to invest more. business,” said Harshvardhan Patodia, president of CREDAI.
The pandemic has sparked a strong interest in Goa’s real estate sector, but the traction has largely been in the high-end luxury segment. While the demand for high-end properties ranging from contemporary luxury villas to old Goa homes has skyrocketed, there has been a decline in affordable and mid-range housing.