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This Report is a free monthly report that
monitors movements in Koh Samui's real estate market, soon to also cover Phuket and outlying areas and Chang Mai, reporting on prices for houses
and apartments and areas of movement. It also reports on new developments
in resorts and retail chains. It is informative and will help those
wishing to invest in Koh Samui and the like.
At present for the first 3 months of this
year prices continued to grow steadily with the more popular areas of
growth being Chaweng, Maenam, Choengmon and Bang Po.
It appears that there have been quite a lot of
Bangkok real estate development companies investing heavily in land
purchase and now building their first housing estates. Having been
successful in Phuket for some years now, they have their eyes on Koh
Samui, a lucrative market for real estate sales. Prices are still far
below Phuket but the gap is closing. The lower price on Koh Samui in
relation to Phuket and the lack of land on Phuket has also attracted many
companies to build their beach resorts here and that has driven beach
land prices higher. The holiday home buyer is now competing with large
corporations for land; and the corporate dollar appears to be securing
the land and winning the race, but at a premium.
Chaweng is by far the most popular growth
area with sales growing rapidly in the 3-4 Million Baht range. Although
the houses are moderate and are developing from both local demand and holiday buyers wishing to have an
inexpensive house near the action. As
mentioned, Maenam is a high growth area with new business' and housing
estates opening rapidly with houses available around 4 Million Baht. One
could think he or she were in Europe when walking around; the bars and
restaurants are full of westerners. Many foreign individuals are also
pushing to secure beachfront land and also mountain view plots. Some prices
in the mountains of Bang Po have jumped from 900,000 Baht per Rai to
3,000,000 in 9 months.
Beachfront land in Bang Po is still
obtainable at 6 Million Baht per Rai and there are plenty of houses at
12 to 14 Million Baht. So the market in the north of this island appears
to be strongest but mountain areas have had the largest increase. Most
people tend to be buying 1 Rai and are prepared to pay a large premium
for the reduced land size.
SUMMARY: They say "Buy in gloom and
sell in boom". So do we sell or hang on, hoping for further
increases? We think the market is still on the increase and would
recommend with the building of the second airport the real estate market
can only go one way up. Although nobody can pick the top of a market,
this market appears to be on the boil but it may level out any day.
But either way Koh Samui is definitely a very healthy real estate market
to be investing in.
We therefore recommend that one should continue cautious
buying, avoiding over inflated prices and learning to shop around checking
the internet pricing as a guide for different area's values.
The Beach Realty is a reliable company
which specializes in beach houses for sale or beach land you may later
like to build on in the future. We also have beautiful seaview houses
and seaview blocks of land for sale at realistic prices.
Disclaimer: The information, opinions and
discussions contained within this material is not intended to be a
comprehensive study nor to provide advice, legal or otherwise. The buyer
must make his own assessment as to the purchase price and area of his or
her land our house.
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