Overview of Chapora, North Goa

Location and Infrastructure

• Chapora sits in North Goa, which has undergone major infrastructure improvements. The area has access to the new Manohar International Airport (MOPA airport) and the existing Dabolim airport, which increases real estate demand.
• Enhanced connectivity with the Vande Bharat train (Mumbai to Goa), expanded highways, and the building of new bridges, including the second Zuari bridge, has boosted the area's appeal.

Market Trends

• North Goa’s residential market, including Chapora, has seen a steep surge in the average value of villas, with a 28% rise in year-on-year (YOY) values in H1 2024. This reflects high demand for second homes and investment properties.
• People prefer gated villas in coastal areas like Anjuna, Arpora, Baga, Calangute, Candolim, and Vagator, all part of the North Beach District.

Property Characteristics

• Typical villas in Chapora and nearby places are often large and fully furnished. A typical villa may cover around 6,997 sq. ft. and cost roughly ₹25.73k per sq. ft.
• Villa sizes have shrunk due to rising land prices, dropping from around 5,400 sq. ft. to 2,700 sq. ft. in the last five years.

Buyer and Renter Preferences

• Homebuyers and renters care more about eco-friendly living. Developers provide designs that are friendly to the environment, like solar panels, rainwater harvesting, and energy-efficient technologies.
• Young professionals, digital nomads, and NRIs from Europe and the Middle East are drawn to Chapora by its tropical climate, pristine beaches, and vibrant culture.

Rental Market

• Detailed rental information for Chapora is sparse. However, the area around Chapora Fish Market offers rentals from ₹2 Lac to ₹3.25 Lac per year, depending on the property type and size.

PropertyWala's Conclusion

Buying or renting a property in Chapora, North Goa, is promising, especially in the luxury and high-end residential segments. Rising property values, better infrastructure, and demand driven by lifestyle-seeking buyers make it an appealing spot. Prospective buyers should note the shrinking size of villas due to higher land prices and prices that reflect the area’s popularity.