Despite continued restrained demand in the broader property market, Phuket luxury villa transactions hit THB 3.5 billion (approx. US$120 million) in the first half of 2009. According to the Phuket Luxury Villa Market Update Mid-Year Report, released by leading Thailand consulting firm C9 Hotelworks, sales volumes for villas priced upwards of THB 65 million outperformed other sectors by significant numbers.
Mixed use hotel managed projects provided branding premiums with a 55 percent uplift in achieved pricing per square meter.
The report concludes that continued tight equity and debt market will limit new developments while barriers to entry highlighted by limited ocean or beach front land indicates positive long term stability. Resales, rentals and an emerging fractional ownership market are tapped to drive wider demand in the near to medium term.
Phuket is one of Asia’s most sought after real estate and leisure destinations and, surrounded by azure seas, powder white beaches and lush tropical gardens, it has become synonymous with the ultimate tropical island destination. The island’s already high popularity is being developed further to attain a world class destination status, one that provides quality facilities and infrastructure, while catering to international investors and discerning leisure travellers.
Phuket has an all year round season, international private schools, modern international airport with many direct flights from major cities across the world, excellent road network, six international golf courses and top-class international hospital facilities.
View Phuket property for sale at Signature Residences Worldwide.
