Phuket has been through its fair share of ups and downs in the last 15 years, but the great Thai tropical island of choice has always weathered the storm.
Nowadays Phuket is back, tourism is on the up, property sales are on the up and the Midwest coast is getting ready to explode as smart Thai and foreign investment move in to clean up. And this smart money knows you can’t get what they’re offering on Amazon.
Phuket’s tropical lifestyle and living experience is a rare commodity enjoyed by a select few,.but this is about to change for the better.
Bangkok elite brand Central Group are taking retail to the next level, with Floresta Mall positioned in the centre of the island, opened at the end of 2018, Central Patong opening Q1 2019 and Central Porto del Phuket planned for Cherngtalay to complete in 2020. The level of investment is substantial, to say the least.
Couple this with Blue Tree, a multi-purpose water park and retail development, soon to complete at the end of 2019. The Cherngtalay, Laguna and Pasak area are, for now, sleeping giants with regards to property prices.
New developments in these areas have sold well in the last couple of years and things will only get easier for them as it dawn’s on buyers and investors alike that this area is set to boom, sorry BOOM! Resale prices are already increasing by approximately 10-15%. Not much you may think, but in a soft global market, Phuket is holding its own.
So how fast and by how much will property prices increase in these areas? Well just hang on just a moment; “Alexa, where can I buy a Crystal Ball?” Who knows or dares to wonder, but one thing is for sure, both new build and resale prices will increase substantially over the next 3 -5 years.
Following the smart money is as good advice as there has ever been given these circumstances. these businesses don’t generally risk vast sums of capital without a good idea of what they are doing
So why but a property in these areas apart from it being a clever thing to do? Well, let’s list a few reasons for the more emotional and less analytical buyer.
Beaches; Bangtao and Layan beach is never more than 5km away and from some locations, you just walk to it.
Restaurants; Fine Thai dining, Italian, French, Mexican, Fusion at prices that suit every pocket.
Shopping; Basically on your doorstep, if you need more information just ask a woman.
Schooling; UWC, BIC, Headstart and Kajonkiet International
Sports; Golf, Tennis, snorkeling and surfing (seasonal), waterskiing, rock climbing, cycling, ohh it goes on…..
Hospitals; several within easy reach.
Ok, I think that’s enough, after all, you’re here to relax not run around like a headless chicken, as I do.
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In summary; Happy house-hunting!