Phuket Investors Choose Luxury Villas News Feed

Phuket Investors Choose Luxury Villas

High demand from tourists is fuelling Phuket’s hot luxury property market, according to a report in The Bangkok Post and investors continue to be drawn by the island’s luxury property market – particularly its high-end villa sector.


According to Phattarachai Taweewong, senior manager of the research department at property consultancy firm Colliers International Thailand, mid-priced villas are enjoying strong sales. These units are classified as those priced between THB10 million and THB 40 million, and this segment of the market was the most active in 2017.


“Pool villas in the Thai contemporary style were the top sellers, as target buyers were mainly European,” he said. “The villa market was healthy from last year to the first quarter of this year because new supply was limited after 2016.”


Areas including Layan Beach, Bang Tao Beach and Surin Beach are all particularly sought-after, according to the figures. Thanks to their proximity to lifestyle developments like Laguna Phuket, they are particularly popular with investors. These properties often offer the best of both worlds to tourist guests, as they benefit from stunning ocean views, plus close proximity to an array of fantastic facilities.


According to data, 60 percent of the buyers in the mid-price segment were European and Russian. The remaining 40 percent were comprised of Asians from Singapore, Hong Kong, China, Japan and South Korea. Sales were also strong in the luxury segment.


“The mid-priced villa market will continue to be healthy in the second half of this year, as many developers are looking for plots to develop new projects, mainly in Surin Beach and Kamala Beach,” he said.


Research published by property consultancy firm CBRE shows that 155 resort villas were sold in Phuket last year – the highest number of units sold since 2015.

According to the stats, the top three Phuket resort property buyers were Thais, European expats and the Chinese. Prakaipeth Meechoosarn, head of advisory and transaction services for resort sales at CBRE, revealed that Russian, Chinese and European buyers are the top three markets for villa purchases.


“Most Chinese and Russian buyers are looking for investment products in the lower end market or units priced below THB35 million (US$1.1 million) per villa with rental returns, while Europeans are mainly looking for a vacation home,” he said. “The Phuket residential market has shifted more towards income-generating properties, rather than vacation homes.”


In 2018, surging visitor numbers will continue to be a key driver of demand in Phuket’s luxury property sector. This is backed up by record visitor arrivals to the island – also widely known by the popular moniker, Gem of the Andaman.

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