Buying Holiday home is not just a matter of Pride anymore , Instead it's one of the best asset class to own in order to create long term wealth and generate passive income. As vacation rental or BNB rental industry is growing at 30 % CAGR yoy basis. Having a holiday home in your asset bucket is must. So here are the few booming holiday homes market in India.
1) Goa- Goa is just not a holiday destination rather it's a state of mind. Crystal Clear beaches , Seafood , night life , Foreign travelers , Adventure and water sports. Goa provides the best holiday Eco system to all sort of travelers. Apart from this Goa is also a richest state in India and Infrastructure development is at peak here. So if you are thinking to Park your hard earned money in Real Estate then Goa is just a Place. Goa's Average Occupancy rate is 85% and Average room rent is 4500 INR which can easily get you the rental returns upto 16-24% via BNB rentals.
2) Lonavla - Located between Mumbai and Pune it's famous for its scenic beauty, wonderful weather , hangout spots , ancient caves and historical monuments.Its popular place for weekend and second homes. Increasing population and lots of economics activities in Navi Mumbai area and Pune Lonavla is also emerging as residential real estate market in terms of investments and end use as well. Navi Munbai Airport will provide excellent connectivity. Lonavla is also a hub for training centers for corporates and have good boarding schools as well. It's can also be considered as preferred destination for senior citizens living spaces and Spiritual retreat. Lonavla is one of the best place to Invest for high rental yield and High capital gains as well in a longer run.
3) Kasauli- Adjacent to the Queen of hills Shimla and just an Hour Distance from Chandigarh Kasauli is a hotspot for Hill Station lover and perfect holiday home destination for North Indians. Kasauli as Real Estate Market has evovled in past 10 years as new Luxury real estate market in India with top brands Projects like Tata Mys and DLF Samaya. Now if you think of Kasauli it's not only about hills and scenic beauty it's about sheer luxury high end villas and apartments with top class furnishing and fixture. Kasauli Average room night is highest in North and attract travelers from all across North and East India. Hence its one the best place to put your hard earned money to make you money while you at sleep.
4)Ooty- Weather it's a Bollywood actors , politician , NRIs , Sports Celebrities love coming to Ooty for leisure and settling down as well. Ooty is famous for Healthy living , low pollution , vast greenery fresh vegetation and fruits. The weather is amazing here. Ooty is also a good place for your children education as it has many well know Schools in surroundings. the crime rate is also very low and people here are very humble and friendly which makes its a perfect place to live. As a Investment point of view Ooty comes with many incentives and perks high rental yields , Low acquisition cost and high capital gains as the price of property will increase in near future as the government is very strict in cutting trees and land conversion. So the property prices will. always go up and up here due to limited land parcels. Here you can expect 10 times of your investment in less than 15 years.
5) Rishikesh- it is not just a pilgrim destination anymore. Its becoming a new weekend destination for delhites and North Indians. Located on Himalaya foothills and a wonderful scenic locales makes its a quality second home destination in India. Pleasant weather , Adventure sports , Pilgrims , Spiritual Centers are attracting travellers all across the world here. Real Estate Market here is already a developed market and many big developers from Delhi and Chandigarh already got into the market very early to en cash the opportunity. Rishikesh offers decent rental income for BNB homes as very less hotel accommodation options are available. Acquisition cost is also no very high so you can expect good capital returns in a longer run also.
So what are you waiting for, go and checkout the best available options at your favorite destination and narrow down your list of goals in 2021.