excerpts from articles in:
the Phuket Gazette (PG), Thailand Property Report (TPP), Thailand Travel Magazine (TTM) by Benjarong
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 Why Phuket? Part II
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March - April 2006
Phuket's "Wow Factor" a winner with MICE PG
A thousand Australians descended on the Sheratio Grande Laguna Phuket on April 8 for the biggest incentive program yet hosted in the Laguna complex. The organizers, Hagemeyer Electrical of Australia, a subsidiary of Dutch trading giant Hagemeyer, estimate that the three-day program, which brought 850 of the company's top customers in Thailand, injected some 150 million baht into the Thai economy, excluding airfares ... Asked why the company had chosen Phuket, a venue that has no dedicated conference facilities, he said that the first priority in selecting a location was to identify a place that would "excite" the company's customers ...
Raimon Land to acquire site adjoining Amanpuri Resort PG
... the 37 rai site has approximately 200 metres of direct beachfront to Bangtao Bay and shares boundary with the world-renowned Amanpuri Resort. "There can be few such opportunities left in Phuket to acquire freehold land of such quality, the superb views, beach frontage and close proximity to Amanpuri make the site a developer's dream, one which Raimon Land will turn into a world class residential development."
What's the outlook for this year? TPP
A busy year is shaping up for Phuket's property market with prices of even lower-end residential developments having risen on the back of foreign interest, says David Simister, chairman of CB Richard Ellis. Prices at the budget level have doubled over the last three years with local bungalows primarily aimed at Thais, originally offered for under a million baht, now costing 2.5 million to three million baht with many foreign buyers.
... David Simister, chairman of CB Richard Ellis says the danger people face with resort real estate is becoming infatuated with a particular property or location and not doing the checks they should do. They should really look at the risks they face and a lawyer should prevent them from buying a bad land title.
"I can't think of a lot of circumstances where people have been cheated,'' he said. ''I think there are a number of people who perhaps buy in haste and then find that maybe, had they done more homework or looked around the island, they might prefer to spend money on the east coast rather than the west, or they might have been able to identify a better project."
What about the East Coast? TTM
Buying Phuket property is an investment into a lifestyle. Nowhere else in Thailand, perhaps nowhere in Asia, offers the affordability, accessibility and liveablility that the Phuket package does. The buyer market is dominated by Hong Kong buyers, typically Western executives who can easily take the short flight over every weekend to enjoy Phuket's offerings. Expatriates in other Asian capitals like Beijing and Singapore are also attracted to the island lifestyle and increasing numbers of Europeans. In 2004 Europeans were the third largest buyer group with a 10% market share.
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Most Phuket agents quote that sea view properties along the west coast can range between THB 60,000 - 85,000/sq.m. The east coast is still approximately 25% cheaper than the west coast but popular opinion suggests it won't be long before these prices rise.
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The sea-view market is dominated by the island's west coast. Most high-end developments are located within Phuket's "Millionaire's Mile"; a stretch running along the north-western coastline from Patong up to the airport. This area of the island is extremely convenient for the dominant buyer group, because of its proximity to the airport as well as the island's leisure and entertainment sites. The west coast's grandest natural features are the long stretches of soft sandy beaches, dramatic headlands and the famous Phuket sunset.
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As land in this stretch becomes more densely populated many developers are turning to the east coast. Chunks of prime real estate still remain, but there are already over five high-end estates being built and more have been slated for development over the next few years. The east coast is home to the island's four marinas and rumour has it that there may be as many as four additional marinas built along this coast over the next few years. The protected waters of Phang-Nga Bay provide smooth sailing year round and the hundreds of tiny islands dotting the bay display a completely different sea view than westward properties ...
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 >
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