Table turning on Sancoale, as Goa emerges as a serviced living hub

Goan economy is maturing. While Goa remains one of the biggest tourism markets in India, other dimensions of the economy is also showing signs of notable progress. Many leading IT ventures, startups, creative agencies, and consulting houses are shifting their base to Goa. Scenic environs, laid back coastal lifestyle, lush greenery, and a property rate that is still lower than most of the Tier-1 cities make Goa an ideal destination to start and operate businesses.

This is also giving a big push to the serviced living and managed villas besides mainstay hotels and lodges. In addition to quick stays and weekend hauls, seemingly longs stay as well as permanent migration is on the rise.

“Many people are now looking at Goa with lens that goes beyond a leisure coastal destination. People are also getting glued by Goa’ inland beauties, its slow-paced lifestyle, warm hospitality and lush green environments. In the past 3-5 years, numerous entrepreneurs, techies and creative leaders have made Goa their permanent home. This is naturally pushing demand for serviced apartments and villas, situated in the midst of serene landscapes.” Quoted, Ankit Kansal, MD, Axon Developers.

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Spotlight turning on Sancoale

One of the areas, which is emerging as the pioneer of serviced living, is Sancoale, a quaint Portuguese-style neighbourhood located near Dabolim airport (~ 7 kms). Rich in cultural heritages and scenic natural beauties, the region is bustling with new supplies of premium homes with a cumulative supply line of ~ 3,200 units, as per the Axon report.

83 percent of the supplies are apartment units, while the remaining are villa properties, as further revealed by the Axon study.

 Avg. property prices have reached Rs. 12,741 PSF, jumping by 15 percent in the past 12 months. (It is the price for primary residential units. The actual price of branded serviced living will be much higher.)

Though the prices are lower than other prominent markets like Mandrem (20 percent), Dona Paula (16 percent), and Morjim (31 percent), Sancoale’s positioning as the new bastion of premium living is unrivalled.  In the past 2-3 years, numerous high-end properties have been launched, comprising apartments, serviced apartments, and villa properties.

 “Sancoale is a perfect destination for people who would like to move to Goa for staycation or permanently shift in the coastal state. It is a perfect blend of modern world dynamism and old-world charm of Goa. Well known for popular Goan bakeries, verdant landscapes and traditional neighbourhoods, it is apt for cultural immersion. Many affluent Indian households and NRIs are investing in modern apartments & villas with curated services in Sancoale. Investing in apartments & villas in Sancoale can also be instrumental in capturing the lucrative vacation rental market in South Goa.” added Ankit Kansal.

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In the times to come Goa will continue riding the tech wave. The state government is taking strong initiatives to morph the coastal state into one of the top-25 tech hubs across the world. As business and economic activities will rise up in Goa, Sancoale will consolidate its position a stronghold for serviced living. Popular tourist spots, serene weather and less crowded sea beaches, make Sancoale perfect place to stay, work and play seamlessly. Another added advantage is cost effectiveness of Sancoale. While in many prominent property markets in Goa, avg. prices have crossed Rs. 25,000 PSF, Sancoale is still much affordable. This will further push buyers, investors and developers alike.