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MORJIM, GOA

- Locations

Morjim, nestled in the Pernem taluka of North Goa, is a captivating hotspot for homebuyers and investors drawn to its unique blend of tranquil beach life, ecological significance, and a distinct cosmopolitan atmosphere, often referred to as "Little Russia" due to its popularity with Russian expatriates and tourists. Having organically grown into a well-developed coastal village, Morjim boasts stunning, pristine beaches that are vital nesting grounds for the Olive Ridley sea turtles, giving it a protected and exclusive character. This ecological importance ensures limited high-rise development, preserving its low-density charm.

A major reason for the booming real estate market in Morjim is the availability of desirable land parcels – ranging from beachfront plots (subject to CRZ regulations) to verdant inland stretches – which serve as a valuable land bank for high-end villas, boutique resorts, and luxurious holiday homes. The strict Coastal Regulation Zone (CRZ) norms, while limiting some forms of development, paradoxically enhance its appeal by safeguarding its natural beauty and exclusivity. Plus, the unparalleled connectivity brought by the new Manohar International Airport (Mopa) in Pernem, coupled with a growing demand for serene, high-value properties and a thriving, niche tourism sector, will bring even more discerning residents, high-end job opportunities, and bespoke business options to this expanding and ecologically vital Goan paradise.

GOVERNMENT PROJECTS IN MORJIM

Manohar International Airport (Mopa) – Proximity and Direct Impact

The single most impactful development for Morjim is its close proximity to the newly operational Manohar International Airport (Mopa) in Pernem taluka. Located approximately 30-40 minutes away, this state-of-the-art airport has dramatically improved national and international air connectivity to North Goa. This direct access is a massive driver for tourism and second-home demand in areas like Morjim, attracting high-net-worth individuals and increasing the viability of luxury rental properties. The airport's continuous expansion plans and focus on an "aerocity" nearby promise sustained economic uplift.

Proposed Co-working Spaces on Beaches (Morjim & Ashwem)

The Goa Tourism Department has announced plans to introduce co-working spaces directly on Morjim and Ashwem beaches. This initiative, aimed at attracting "digital nomads" and high-spending tourists, would allow visitors to work while enjoying the beach environment. If materialized, this would significantly boost the appeal of Morjim for remote workers and creative professionals seeking a unique work-life balance, directly impacting the demand for long-term rentals and residential properties.

Emphasis on Regenerative Tourism & Sustainable Development

The Goa government, including the GTDC, is shifting focus towards "regenerative tourism," which emphasizes involving local people, culture, cuisine, and sustainable practices. For Morjim, this means a continued commitment to preserving its natural environment, particularly the Olive Ridley turtle nesting sites. While strict CRZ rules might limit some development, they protect the long-term ecological value and exclusivity that draws a specific, environmentally conscious type of investor and tourist, ensuring the area's sustained appeal.

Strengthening of Local Infrastructure & Connectivity to Key Hubs

While not always large, centrally announced projects, there's an ongoing governmental focus by bodies like the Goa State Infrastructure Development Corporation (GSIDC) on improving internal road networks, drainage, and basic amenities in coastal villages. For Morjim, this means better access to nearby commercial hubs like Mapusa and popular destinations like Vagator and Anjuna, ensuring that residents and tourists can move around conveniently, supporting the area's growth without compromising its serene character.

Protection of Olive Ridley Turtle Nesting Sites (Ecological USP)

While a conservation effort rather than a "development project," the government's stringent protection of Morjim beach as an Olive Ridley turtle nesting site is a crucial USP for investors. This ensures that the beach remains unspoiled and prevents over-commercialization or unchecked high-rise construction, maintaining Morjim's exclusive, low-density, and natural appeal. This ecological conservation effectively limits supply of new builds and protects the premium value of existing properties and approved developments.

LAND GROWTH STATISTICS IN MORJIM 2025

Morjim is a premium real estate market in North Goa, known for its high property values, particularly for luxury villas and plots, driven by its unique environment and demand from an affluent demographic.

  • Average Property Price (Overall): As of June 2025, the average property price in Morjim is approximately ₹18,848 per sq. ft. (Source: Housing.com). This positions Morjim as one of the most expensive locations in Goa, comparable to or even exceeding areas like Assagao and Siolim.

  • Year-on-Year Growth: Morjim has demonstrated positive appreciation. Housing.com reports a 2.39% rise in property rates in the last 1 year, with a +3.19% Year-on-Year (Y-o-Y) growth. This indicates a consistent and healthy upward trend, although other analyses suggest broader North Goa luxury segment growth can be higher (15-30% in recent years). This difference might be due to Morjim’s already high base price and the impact of CRZ regulations limiting new supply.

  • Luxury Villa and Plot Prices (Indicative, as of June 2025): Morjim is predominantly a luxury villa market, with a focus on high-end holiday homes and bespoke residences.

    • Villas: Prices for luxury villas are significant, reflecting their exclusivity and amenities:

      • A 3 BHK villa with a built-up area of 2918 sq. ft. can be priced around ₹5.5 Cr (approx. ₹18,848 per sq. ft.).

      • Larger, more premium independent houses are listed around ₹12.5 Cr for a built-up area of 3875 sq. ft. (approx. ₹32,258 per sq. ft.).

      • Projects like “One City Sagrados Villas” in Pernem (near Morjim) offer 3 BHK villas ranging from ₹3.21 Cr to ₹3.66 Cr for sizes between 3556-3939 sq. ft. (approx. ₹9,150 per sq. ft.).

    • Plots/Land: While specific per sq. ft. prices for raw land in Morjim were not readily available, considering the villa prices, plots suitable for luxury development would command a very high premium. Prices would vary significantly based on proximity to the beach, CRZ classification (if applicable), and clear title. Developed plots within gated communities with necessary approvals would be at the higher end of the per-square-foot range for Goa.

    • Listings mention “Sun Estates Morjim Villas” with sizes of 17801 sq. ft. available for “Price on Request,” indicating ultra-luxury, large land parcels for custom builds.

  • Rental Yields & Market Composition:

    • Morjim has a “moderate” short-term rental regulation level.

    • The average daily rate (ADR) for Airbnb listings is around $94 (approx. ₹7,800).

    • The median annual revenue for an Airbnb listing is approximately $4,173 (approx. ₹3.47 Lakh). Top 10% properties can achieve over $1,783 monthly (approx. ₹1.48 Lakh).

    • The market is heavily skewed towards “Private Room” listings (59.7%) and “Hotel/Boutique properties” (50.3%), suggesting strong demand for furnished, managed accommodations.

    • Revenue growth year-on-year is 8.6%, with peak revenue months being March, February, and December.

Morjim’s real estate market is highly attractive for investors seeking luxury assets with significant rental income potential and long-term capital appreciation, particularly those who value exclusivity, natural beauty, and a unique international village ambiance. Its ecological protection status ensures its pristine character is maintained, solidifying its position as a unique luxury niche in Goa.

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