PHUKET, THAILAND — When there’s blood in the streets, can you sell real estate, even if it is your own? That is the question facing property developers, brokers and investors here.
The island, Thailand’s largest, is one of Asia’s top markets for vacation villas. Behind the casuarina trees along “Millionaire’s Mile,” luxury multimillion-dollar homes perch on cliffs, their marble swimming pools looking out west over the Andaman Sea. Along Phuket’s roads, billboards tout “no risk” deals and flash pictures of fancy seafront apartments.
But its rampant development has ground to a halt as a result of the global financial crisis and the political crisis since the removal of Thaksin Shinawatra, the former prime minister, in a coup in September 2006.
Thursday, April 30, 2009
Wednesday, April 22, 2009
'Endless Summer' as Phuket Goes to Market
RESORT managers and tourism chiefs will be meeting on April 23 to talk about Phuket's weather. Economic forecasts for the island will be discussed, too.
Let's hope Thursday isn't windy or raining, because the whole idea is based on selling Phuket's so-called low season as ''Summer'' instead.
The real advance is that for the first time, key people will be gathering to talk about a collective island fightback.
Let's hope Thursday isn't windy or raining, because the whole idea is based on selling Phuket's so-called low season as ''Summer'' instead.
The real advance is that for the first time, key people will be gathering to talk about a collective island fightback.
Friday, April 17, 2009
Baan Suralai, or "Home of the Angels" in Thai, was built on the island of Koh Samui in the Gulf of Thailand
When Lynn Grebstad of Hong Kong first thought about building a villa in Thailand, she was set on Phuket, the grande dame of Southeast Asian resorts. But Mrs. Grebstad was persuaded to shift her attention to Thailand’s other coast, to the lesser-known island of Koh Samui, by a friend who owns a holiday house here.
The small, 247-square-kilometer (95-square-mile) island in the Gulf of Thailand was shaking off its backpacker past and going upmarket. Bangkok Airways was also planning to start direct service between the island and Hong Kong. (The island is far from the protests that have engulfed the country in recent days.)
So, in 2005, Mrs. Grebstad decided to buy a 1.3-rai (half-acre) plot on a hillside on Samui’s northeast corner with her business partner, Paul Hicks. The two own Grebstad Hicks Communications, a public relations firm based in Hong Kong that represents luxury hotels and other high-end brands.
The small, 247-square-kilometer (95-square-mile) island in the Gulf of Thailand was shaking off its backpacker past and going upmarket. Bangkok Airways was also planning to start direct service between the island and Hong Kong. (The island is far from the protests that have engulfed the country in recent days.)
So, in 2005, Mrs. Grebstad decided to buy a 1.3-rai (half-acre) plot on a hillside on Samui’s northeast corner with her business partner, Paul Hicks. The two own Grebstad Hicks Communications, a public relations firm based in Hong Kong that represents luxury hotels and other high-end brands.
Wednesday, April 15, 2009
Monday, April 13, 2009
Five year boom in Phuket property markets comes to halt
The popular Thai resort of Phuket experienced a marked decrease in the number of overseas property investors buying on the island with the forced closure of its airports due to public disorder last year playing its part.
An analysis of the situation by CB Richard Ellis has uncovered a significant drop in real estate transactions, fewer property launches and an increase in the number of projects being cancelled.
In its latest report it confirms that five years of a rising property market came to a halt in the last quarter of 2008. But Phuket is unlikely to suffer a property crisis like that seen in Spain, which also relies heavily on foreign property investors, analysts say.
An analysis of the situation by CB Richard Ellis has uncovered a significant drop in real estate transactions, fewer property launches and an increase in the number of projects being cancelled.
In its latest report it confirms that five years of a rising property market came to a halt in the last quarter of 2008. But Phuket is unlikely to suffer a property crisis like that seen in Spain, which also relies heavily on foreign property investors, analysts say.
Friday, April 10, 2009
Thailand popular with expats and investors looking for the best property Thailand has to offer
With more than 14 million vacationers arriving in Thailand each year, tourism continues to be the main driving force behind the continued growth of the Thai property market.
The resort locations of Pattaya, Phuket, Koh Samui and Hua Hin are the locations of 30% of the country’s luxury apartment inventory, and have as a whole experienced annual growth of 9.5% in international arrivals since 2003.
Currently Russians top the list of nationalities buying property in Thailand, followed by Thais, British and Australians. Property in Thailand offers investors the opportunity to achieve good annual appreciation, rental yields of 6-10% and the ability to buy off plan projects with financing. In this article we take a look at the best places to buy property in Thailand at the moment…
With it’s proximity to Bangkok and the new Suvarnabhumi airport, Pattaya is the most popular area to buy property in Thailand outside of Bangkok, with 66% of all new development launches for the nation in 2007.
The resort locations of Pattaya, Phuket, Koh Samui and Hua Hin are the locations of 30% of the country’s luxury apartment inventory, and have as a whole experienced annual growth of 9.5% in international arrivals since 2003.
Currently Russians top the list of nationalities buying property in Thailand, followed by Thais, British and Australians. Property in Thailand offers investors the opportunity to achieve good annual appreciation, rental yields of 6-10% and the ability to buy off plan projects with financing. In this article we take a look at the best places to buy property in Thailand at the moment…
With it’s proximity to Bangkok and the new Suvarnabhumi airport, Pattaya is the most popular area to buy property in Thailand outside of Bangkok, with 66% of all new development launches for the nation in 2007.
Friday, April 3, 2009
Nakheel to develop island resort in Thailand
Bangkok: Nakheel, Dubai's master developer, has joined Thailand's Amburaya Hotels & Resorts to transform Thailand's idyllic Koh Samui Island with the launch of a stunning integrated resort development comprising 17 luxurious private residences and a 75-key all-villa hotel.
The joint-venture project is positioned on an exclusive 27-acre headland site with 900 metres of private beachfront, approximately 15 minutes' drive from Samui International Airport.
The W Koh Samui Retreat & Residences will be among the first W-branded residential projects in Asia when the 17 residential villas are completed in 2010 and will boast some of the most prestigious real estate in Thailand right on the shores of the Gulf of Siam.
The joint-venture project is positioned on an exclusive 27-acre headland site with 900 metres of private beachfront, approximately 15 minutes' drive from Samui International Airport.
The W Koh Samui Retreat & Residences will be among the first W-branded residential projects in Asia when the 17 residential villas are completed in 2010 and will boast some of the most prestigious real estate in Thailand right on the shores of the Gulf of Siam.
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