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Market Watch - Page 6:

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Phuket - The Next Big Property Trend 2007.

 

 

 

Writing this column is a great icebreaker when I meet people. The two questions I am asked the most are, "So, what's the next big trend?" and "What little known spot will be tomorrow's real estate success story?

Lacking a crystal ball or a genie in a lamp, most of us mere mortals have to rely on research, putting in a fair bit of road time and those key intangibles - good properties, and even better luck.

Certainly Phuket, and what is becoming known as "Greater Phuket" - including Phang Nga, Krabi and their islands - is bursting at the seams. Up north over the bridge Ko Pilai and Tah Sai have seen some of the largest land transactions recently.

Bolstered by brand names such as Raffles moving into the area, it's certain to be a significant hotel and residential market in the medium term. Thai Muang with its golf course and marina is poised for redevelopment.

Will things move even further north to Takuapa or to the top of Phang Nga Bay , just head over the bridge and turn right? There are huge Undeveloped areas with stunning views of Phang Nga Bay just a short boat ride to Phuket's Yacht Haven.Krabi, with its large new hotel developments in Klong Muang and Haad Yao's "The Cove at Krabi", with its multiple hotels, golf course, condos and villas, is looking to be Thailand 's next Laguna-style integrated destination resort.

With its international airport, eco-friendly focus - no jet skis and no power poles erected along resort the beachfront - and with considerable tourist attractions it's still in the early development phase for the property business.

Head south and Koh Lanta is quickly playing catch up with well-regarded resorts such as Pialai Bay , Layana and Costa Lanta attracting more and more guests looking for new experiences.

The Scandinavian sun seekers have moved quickly into the area with housing such, as International Law Offie, to firms developments, business and even schools


 

aimed at attracting those escaping the harsh Nordic winters.

Off Koh Lanta Koh Jom is already offering investment properties aimed at resort type developments. Meanwhile the white sands beaches of Trang are starting to attract both resort and property developers.

In Phang Nga Bay there is a distinct allure to islands offering both unparalleled privacy and adventure. Traditionally this was the realm of day trippers visiting James Bong Island but the scene is rapidly changing.

Jumerirah's private island resort in Ao Phor, The Village Coconut Island on Koh Maphrao and the upcoming Taj Exotica on Koh Lone, all offer mixed use, brand-managed properties for sale. Suddenly developers are looking far and wide for island land.

Even in our own backyard Patong, where there has been relatively few mid- and and upper range real estate developments in the past few years, there are over 1,000 new branded hotel rooms opening by the end of this year.

Operators such as Millennium out of Singapore and European hotelier Accor, bringing the Mecure and Ibis brands are leading the international charge. Transactions and new high-end development launches look to be on the raise over the next few months.

One of the most innovative properties, the BYD Lofts, has proved that buyers will pay premiums above the existing market.

So whether you go north or south, east or west - the world of Greater Phuket is indeed continuing to evolve and change. Tastes and products change, location preferences shift, while older locations shed their skins and remake themselves.

As to what's the next big it could be a distant journey away or just around the corner but get out there and explore. You just might be surprised at what you'll find.

 

   

Bill Bamett is Managing Director of C9 Hotelworks a Phuket hotel and residential consulting firm With more 20 years experience in the region, he has played an active role in some of the island biggest develovments.

       
       
Articles: 2009
 

Koh Samui's Luxury Market Emerges

 

The Next Big Thing In Ocean Front Real Estate

 

Predicting The Year Ahead - 2009

 

Phuket For Sale

 

Is Phuket Property Too Expensive

 

Is Phuket Ready For Fractional Ownership?

 

Koh Samui's Emerging Luxury Market Part 2

 

The Winds Of Change

 

Phuket Luxury Villa Market Update Part 1

 

 

       
 

Archived Articles: 2007 - 2008

 

Krabi - On The Edge Of A Boom

 

US Financial Crisis - Living The Sub-Prime Life

 

Rental Income - Investment Rent And Raves

 

Aesthetics - Out With The New, In With The Old

 

Hotel Branded Realestate, Battle Of The Brands

 

Local Communities - Cables Gone Wild

 

Rental Property - Plus & Minus, Buying A Hotel Unit

 

Aesthetics - Bold Designs Keep Boredom At Bay

 

Agent Commission, The Low Down About Paying Up

 

US Financial Crisis - Clouds The Property Horizon

 

Pre-plan your purchase, and prevent future pain

 

Vietnam, Too Fast Too Soon

 

Timeshare, High End Fractional Ownership Matures

 

How we should protect the property cash cow

 

Re-Inventing Patong

 

Budget Hotel Brands Shake Up The Scene

 

Property Developers - Number Crunching Pays Off

 

Bali, (property) Supply Surges Ahead

 

Aesthetics - Designing For Success

 

Phuket, Battle to preserve the beaches

 

Low Season - Cyclical Cynics

 

Phuket Luxury Villa Market Update Feb 2009

 

Khao Lak, Back To The Future

   
 

 

   
 
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