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From Goa to Rishikesh: Tourist destinations fuel next wave of serviced residences: Colliers

Serviced residences
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India’s real estate sector is witnessing a structural shift as serviced residences move from a niche segment to a mainstream investment opportunity. Once limited to Tier I cities like Mumbai, Delhi NCR, and Bengaluru, the asset class is now gaining traction in tourism-led destinations such as Goa, Rishikesh, and Kasauli. Backed by hotel brand partnerships, these residences blend the comfort of a home with premium 4–5-star amenities, appealing to both business and leisure travellers.

According to Colliers’ latest report, “Transforming Goa: Unlocking Investment Potential Beyond the Coast”, the trend is opening new growth avenues for investors, driven by long-stay demand, flexible work lifestyles, and the rising appeal of branded, professionally managed second homes.

Tourist Destinations Driving the Next Wave Investments

Beyond Tier I cities, a new wave of serviced residence growth is taking shape in tourism centric destinations. Locations such as Goa, Rishikesh, Kasauli are witnessing heightened demand, fuelled by:

ü  Rising preference for long-stay and experiential stays.

ü  The growth of remote and flexible work culture.

ü  Shifting traveller mindset from regular hotels to branded, professionally managed residences.

ü  Increasing appeal among second-home buyers seeking rental visibility and ROI alongside lifestyle benefits.

ü  In Tier I cities, branded serviced residences associated with national or international hotel brands command an average sale price of around INR 22,000 per sq.ft. in Delhi, ~INR19,500 per sq.ft. in Bengaluru, and ~INR 25,000 per sq.ft. in Mumbai. In comparison, tourist destinations offer more attractive entry points, with Goa starting at ~INR11,500 per sq.ft. followed by Kasauli and Rishikesh at ~ INR 9,500 and ~INR 8,500 per sq.ft. Respectively.

Growth Outlook

Goa stands out as India’s premier leisure and lifestyle destination, with its unique blend of affordability, premium hospitality tie-ups, planned infrastructure projects and strong tourism-driven demand, Goa has gradually undergone a paradigm shift from villa to apartment typology with serviced residences emerging as one of the next major investment trends in India.

As global travellers and domestic buyers increasingly seek lifestyle-driven real estate options, serviced residences in Goa will be ideal combination of price appreciation, consistent rental yields, and long-term lifestyle benefits cementing the state’s place as a preferred destination for investors and homeowners across India and globally.

Over the years, Goa’s residential price appreciation of nearly 2.6X from ~INR 4,000 to 10,300 per sq.ft. (2019-2025), Going forward, development is expected to expand from the coast to the hinterland, driven by the operationalization of Mopa International Airport, the planned Phase 3 and 4 expansions, proposed Aerocity and the DMIC corridor. This wave of growth is projected to fuel further price appreciation of 2.5–3.0X by 2032 with rental yield ~8-12%

“Serviced residences are transforming into a high-performing asset class, combining investment growth with lifestyle appeal. With rising demand across emerging micro-markets, investors and homeowners have a unique opportunity to unlock long-term good return on investment, capital appreciation while also benefiting from attractive rental yields as second home or holiday home investment,” says Swapnil Anil, Managing Director, Advisory Services, Colliers India.

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