By Andrew Batt:
Thailand can expect to see more demand from overseas buyers for condominiums as a result of record visitor numbers in 2012.
The Tourism Authority of Thailand recently revealed that close to 22 million tourists visited the Land of Smiles last year – up 15 percent from the previous 12 months. Top source countries are China followed by Malaysia, Japan, Russia, South Korea, India, Laos, Australia, the UK and Singapore.
Phuket is the favourite island destination in South East Asia, and the island’s international airport saw a record 9.5 million arrivals and departures in 2012, up 13% on the previous year.
The emphasis now appears on wealth rather than the mass market, with a whole new source of property buyers keen on condo-style resorts in particular.
One developer that is looking to take advantage of this trend is Beach Projects. The company has recently relocated its HQ to Thailand It is building luxury investment-grade beach properties on the island.
Roy Hanif, Partner in Beach Projects, said: “Tourists quickly convert to property investors as they fall in love with the year-round 30 degree sunshine and legendary scenery. Living costs are also one third of those in Europe.
He added: “There is a new wave of demand from overseas, and Phuket’s local middle class population, for luxurious, spacious condo resorts with establishments such as the Banyan Tree booking out way in advance, so we’re building Silver Beach in Phuket to go some way to satisfying this.”
Recent media reports suggested that the condo market in Phuket has grown by 20 percent in the past two years. The Russians and Chinese lead the way, with 30 percent of buyers on the island coming from Russia alone. Resorts with sea views are the most popular yet the hardest plots to come by, thankfully Silver Beach ticks that box having purchased tracts of private beach to accompany their five-star European build quality project.
Designed by Bangkok-based Harvard-educated architect Bill Bensley, the ‘king of exotic luxury resorts’ according to Time magazine, Silver Beach Phuket (pictured) is set next to the Laem Hin nature reserve on the Thai island’s coveted east coast. Enclosed by the Andaman Sea on one side and mangrove forest on the other, these five-star luxury gated properties sit on private beaches with resort-quality facilities.
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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