Phuket sea front villas prove popular in Thailand

Wednesday, February 09, 2011

Phuket sea front villas prove popular in Thailand

The island of Phuket, arguably the most well-liked destination for most Brits holidaying in Thailand, is also among the most popular places to buy property in Thailand, according to research conducted by CB Richard Ellis.

CBRE's latest report shows that homes in Phuket located along the seafront continued to prove highly popular during the third quarter of 2010.

Phuket's property market is being supported by a rise in tourism, which in turn is driving demand for homes to rent and buy.

CBRE said that total sales performance of total existing and future villa units was 77 per cent.

Elsewhere, strong demand for property in Bangkok is expected to see the supply of condominiums in the popular Thai capital increase this year.

A separate report by Jones Lang LaSalle Thailand suggests that a number of top-end condominium projects will launch in Bangkok this year, bringing the total stock to 22,834.

Many projects were supposed to launch in 2010 but were put on hold due to political unrest. But Jones Lang LaSalle's managing director Suphin Mechuchep says that many luxury condo developers believe that market conditions are now right to build.

She said that the renewal of demand from overseas buyers would also help increase the number of high-end launches in 2011.

To read our guide to buying in Thailand, click here.


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