Phuket, Thailand to Remain the Premium Residential Resort for Expats

Phuket should remain the premium residential resort market for expatriates living in Asia and will attract more global buyers in search of high-end properties, exceptional locations and guaranteed privacy, according to property consultant CB Richard Ellis.

Bangkok, Thailand (PRWEB) March 31, 2006 -- Phuket should remain the premium residential resort market for expatriates living in Asia and will attract more global buyers in search of high-end properties, exceptional locations and guaranteed privacy, according to property consultant CB Richard Ellis (http://www.cbre.co.th).

The firm said a survey showed that the property supply had evolved to fit all budgets from Bt2.5 million to Bt389 million, with many new luxury projects on the island. It said that both the number of developments offering villas priced above Bt39 million and condominium projects with units above Bt29 million had doubled over the past 12 months.

"Good fundamentals in terms of location, views and the immediate environment, quality of the design and construction, funding of the project, branding and management of the properties are crucial in securing quick sales," said David Simister, chairman of CB Richard Ellis Thailand.

"Recently launched projects such as Trisara, The Heights and Crowne Plaza Residence have the right elements to ensure success," he said.

The firm said that Trisara Phase C, which consists of Bt105 million-to-Bt211 million ocean-view and sea-front villas on 1,300 to 2,900 square-metre plots, and The Heights, with sea-view condominium units at Bt15 million to Bt37.5 million, were both 50-per-cent sold out within weeks of their launch. Crowne Plaza Residence, consisting of Bt13 million-to-Bt15 million condos, has sold a third of its units, it said.

The island's east coast has also entered a new phase in its development, with the opening of the Mission Hills Golf Course and Chandara Resort and Spa.

A substantial part of the construction of the private houses and hotel facilities in Supalai is underway, while Cape Yamu has launched a new project on an adjacent site called The Bay, with villas priced at Bt23.5 million to Bt55 million, the firm said.

The high level of buying activity on Phuket over the past few months is reflected in the number of arrivals at Phuket International Airport, which more than doubled in February compared February 2005.

A second international school is also planned, while construction of an extension to Phuket International Hospital has started. Phuket has six high-quality golf courses, and the new Royal Phuket Marina's high-end boat facility is now in service.

Meanwhile, Jungceylon is scheduled to open its retail centre in Patong in time for the high season.

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