Value seen in Phuket villas from Bt8m-Bt15m
Residential villas priced from Bt8 to Bt15 million in Phuket present good prospects, according to Nattha Kahapana, executive director and head of Knight Frank Phuket, forecast.
He said the market would continue to see healthy take-up rates. By the end of the third quarter of 2017, there were some 1,982 units being sold out of 2,542 units, and such units represented a sales success rate of 78 per cent, he said.
However, Phuket villas priced over Bt300 million had gloomy prospects. Sales transactions are stagnant, and only a few units have been sold. On the whole, average unit selling prices will be stable or slightly increasing. Also, there will be more resale villas entering the market, Nattha added.
There are 2,542 villa units in Phuket. During the first nine months of 2017, 178 units were added as new supply to the Phuket villa market. The majority of new villas added during the first nine months of last year included two-bedroom villa units with a selling price of Bt8 to Bt12 million. The majority of the new supply was in the central part of the island, near Bangtao, Surin and Kamala beaches.
Most of the villa buyers are foreigners and expatriates living in Asia, such as those from Hong Kong, Singapore and mainland China. Some from Australia and New Zealand buy villas in Phuket for a second home. Buyers from China were among the top three villa buyers by group in Phuket after those from Hong Kong and Singapore. Non-stop flights, with only a few hours of flying time, from some cities in China also helped boost the market.
