facility will significantlyenhance demand for the destination.
Reviewing my list of property developers turned out to be no small task. Roads are not well marked; developers have yet to use directional signs and in most cases even projects underway do not have signs or sales offices.
In Klong Munag, PhulayHeights 52 villas look out over Phang Nga Bay . On the beachfront at Narnmao Bay , near Fossil Beach , is Amatapura with its 29 pool villas.
At Haad Yao (Long Beach) lies Krabi's most touted project: The Cove, where more than 1,000 rai is being developed to provide more than 1,200 residential condos and villas, branded hotels and an 18-hole Colin Montgomerie designed golf course. With long stretches of beachfront and stunning views of distant islands, this is one of Thailand 's largest developments.
Located nearby is Le Kiri, a boutique beachfront development of eight villas.
While, there are a few smaller and mid ranged projects in the 2 to 4 million baht range focusing on buyers from Scandinavia and the UK, Krabi in terms of residential product, is where Phuket was 15 years ago.
But despite the limited product range and lack of international agents - although it is rumoured that CBRE will open an office there soon - land in Krabi is not cheap.
Large lots of prime land were snapped up years ago, mainly by wholesale buyers from Bangkok , so this may explain the lack of smaller developments. For golf courses, there is only the Pakasai Golf Club, which recently upgraded to 18 holes, and there are no major marinas to speak of.
Given the rise in tourism, hotels, and ease of access, Krabi appears to be on the cusp of great things. Property development will most likely follow the branded hotels in Klong Muang and Tub Kaek and will evolve over time in the Haad Yao area simply because this is where the undeveloped land is.
Thalen Bay, with its proximity to the new five-star hotels and stunning views would seem a likely candidate for longer-term development. It's going to be an interesting ride to see how Krabi's tourism visionaries stick to their plans and integrate with the property market.
In the meantime, if you head off to Krabi looking for real estate, take a good map and lots of patience and time. The market is pretty much a blank page at present, but that looks set to change rapidly in the very near future.
