The world we live in is currently changing by the day, and there seems to be very little we can do to stop it, apart from practicing social distancing, washing our hands and not touching our face, and that last one is a real challenge. Time for change.
If you are a seller/vendor of property on Phuket, let me be honest with you, if it was thought before this it’s going to be even tougher now, for many reasons.
This pandemic is a real threat to the property industry all over the world. yes its a threat to a number of industries, but here we’ll just focus on property. Currently, Phuket is on lock-down, ports, bridges and the airport are closed to non-essential travel until further notice, see here
The only tourists that remain on Phuket are those that arrived before the lock-down and those who cannot get back to there own countries due to their travel restrictions. These tourists do not usually resemble the standard investor I have encountered over the past 15 years. So, no one here to sell to and investors have never willingly formed queues to buy property in Thailand “sight-unseen”. It’s time to draw on the 20+ yrs of real estate knowledge and past experiences in times of crisis within our unique industry and put it in to practice, once again. Some sellers are getting ahead of the curve as we speak and re-adjusting their selling prices to encourage faster sales activity, see here.
The only things we can do as brokers and sellers/vendors are to keep up the marketing visibility, part with useful, honest and credible information, make adjustments to property pricing that fall in line with what is to be expected and be ready for the imminent return of interest in the Phuket property market.
If you are selling your property on Phuket and your personal circumstances are such that you are more motivated to sell, please contact us to discuss further. We are here to help.
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