n the last quarter of 2008 the upscale luxury villa sector in Phuket outperformed the industry average in the region, with investors still interested in real estate of this kind.
In the Phuket Luxury Villa Market Report recently released by consulting firm C9 Hotelworks, it was discovered that a total of 304 properties priced from THB65 million (USD2 million) and above located within estate developments were for sale at the close of 2008.
2009 is expected to see even more with 367 new projects to be developed.
Thursday, January 22, 2009
Friday, January 16, 2009
Stimulus good for property
"The most significant issue facing Thailand's real-estate sector now is the sluggish demand following the global financial meltdown and its impact on the real economy. If the government's economic-stimulus package can help improve the overall economy and consequently boost consumer confidence, the real-estate sector will eventually benefit as real-estate demand is tied tightly with overall economic conditions," said Suphin Mechuchep, managing director of Jones Lang LaSalle.
Part of the package includes stimulus measures for the property sector.
The government plans to double the tax deduction on home mortgages from Bt100,000 to Bt200,000 and encourage more lending to low-income home-buyers.
Part of the package includes stimulus measures for the property sector.
The government plans to double the tax deduction on home mortgages from Bt100,000 to Bt200,000 and encourage more lending to low-income home-buyers.
Friday, January 9, 2009
Best Real Estate in Thailand: Koh Phangan
Koh Phangan in Thailand is recommended by overseas property portal as one of the best real estate investment opportunities from around the globe. Here is what he had to say:
I began recommending Koh Phangan as a 'hot market' at the beginning of 2008, when I stated that the success of its big-brother, the then semi-mature Koh Samui, which had seen 50% annual growth the 2 years previous could be used as a guide as to the success of Koh Phangan, then only beginning to appear on the international property investment stage. But just as Koh Samui has been affected by the global situation, so Koh Phangan growth potential has been stunted, but this just makes it an even hotter investment destination.
"I have said before that property investors buying now are more often-than-not doing so for possible mid-long term gains. Right now, you can buy 10 Rai of tropical beach-front land, already divided into 8 plots and prepped for development for just £114,000. This will easily sell for three, four or even five times that -- depending on how patient its owner is -- during Asia's (and the world's) economic recovery, when it can easily be sold for development into an exclusive luxury resort of say 10 villas, each selling for £150,000 or more."
I began recommending Koh Phangan as a 'hot market' at the beginning of 2008, when I stated that the success of its big-brother, the then semi-mature Koh Samui, which had seen 50% annual growth the 2 years previous could be used as a guide as to the success of Koh Phangan, then only beginning to appear on the international property investment stage. But just as Koh Samui has been affected by the global situation, so Koh Phangan growth potential has been stunted, but this just makes it an even hotter investment destination.
"I have said before that property investors buying now are more often-than-not doing so for possible mid-long term gains. Right now, you can buy 10 Rai of tropical beach-front land, already divided into 8 plots and prepped for development for just £114,000. This will easily sell for three, four or even five times that -- depending on how patient its owner is -- during Asia's (and the world's) economic recovery, when it can easily be sold for development into an exclusive luxury resort of say 10 villas, each selling for £150,000 or more."
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