Phuket’s villa market saw increased activity in Q4 2013, according to a new research report published yesterday, while buyers in the condo market are switching their attention to resale units.
In its Phuket Residential Marketview report, the research arm of real estate firm CBRE Thailand reported that 67 villas were sold in the final three months of last year. This was an increase compared with the 51 villas sold in Q3 2013. It found that 70 percent of units were sold at prices below THB15 million, while just 3 percent were transacted above THB90 million.
Nationalities of villa buyers during the quarter included Russian, British, German and some Hong Kong and Singapore nationals. These buyers mainly focused on affordable villas with prices less than THB30 million.
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Completed supply in Phuket’s condominium sector grew by 15.7 percent year-on-year, and there are more than 2,800 resort units in the pipeline which are expected to be completed by the end of 2015, according to CBRE Thailand.
Condominium buyers, it said, still preferred smaller units, and sales were best in mid-range projects priced between THB 60,000 and THB89,999 per sqm.
CBRE said: “We have seen an increase in buyers for rent and long-term investors. The most popular unit type for rent is the one-bedroom unit. We also have seen active resale units of built condominiums. The resale units tend to offer bigger unit sizes and better value-for-money. and often better quality as the buyers can see the actual units before buying.”
Read the full CBRE Phuket Residential Marketview Q4 2013 report here.
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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