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excerpt from an article in Bangkok Post:
	Phuket luxury demand could overtake supply
	10 April 2006 Most of the new supply of real estate entering the Phuket market over the next two to three years will be well below the recent luxury benchmarks that have been set at 20 million baht per unit or more. The result could be a shortfall at the top end of the market where villas cost at least 60 million baht, says Stephen O'Brien, the managing director of the property agency Knight Frank Phuket. Almost 180 to 200 new units of deluxe real estate, mainly villas, are expected to enter the Phuket market within two years and there is real concern about strong demand but limited supply. "Super-expensive, there will be a shortfall," Mr O'Brien said. According to new research by Knight Frank Phuket, in August 2004 there were 2,833 new residential units available in the Phuket market, of which 41% had been sold. In March this year the total was 3,856, of which 53% had been sold. Even though there are a lot more projects on the resort island and real estate is still selling well, Mr O'Brien said, "It's probably not going as quickly as we would like it to, but it's still selling well and obviously what is selling well are projects such as Laguna, Crowne Plaza and seaview properties." ... consumers still had a lot of choice, with units under 10 million baht also available. Financing too is easier now, with merchant banks from Hong Kong and Europe willing to finance both projects and offer mortgages to buyers on the island ... Please contact our newsdesk for more information on recent market movements: The REP_newsdesk - news@realestate-phuket.com REP Authorised Agent: GreenAcres Consultancy (GAC) greenacres@realestate-phuket.com < editor's note > All views expressed in articles reproduced or published here are strictly those of the respective authors. Readers are advised to seek independent legal and financial advice when buying or investing in any property. Reliance on any information on this site is at your own risk. RealEstate-PHUKET.com, its partners, associates, affiliations and staff disclaim any and all responsibility in relation thereto.
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