THE ASSAGAO BUBBLE: WHAT HAPPENED?

Prashant is the founder of TPB, a boutique real estate consultancy in Goa, focussing on ultra luxury homes.

- Prashant Kalra

Sadly Assagao became a cautionary tale to help us understand that what goes up, can come down, especially if people become emotional about their decisions to buy homes without considering the underlying value. As the landscape of Goa's real estate continues to evolve, we should remember the rise and fall of Assagao as a real estate destination.

He moved to Goa from Gurgaon in 2019 after his daughter developed breathing issues.

THE RISE

A sleepy village on the way to Anjuna, which had largely been off the tourist radar, suddenly became known for its restaurants and cafes. Then in and around 2018, certain developers had bought land in this village and had started announcing projects.

Some early movers bought into these. Slowly, word began to spread that Assagao was an upcoming destination with fantastic food and nightlife options while being classier and less touristy than beach destinations like Vagator, Calangute and Anjuna.