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Bangkok Developers Steaming Into Phuket

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Posted: 18 Feb 2011 | 6:00 am

While foreign demand has continued to flatline in broad terms for Phuket property, domestic demand is the real storyline for real estate on the island.

Setting to cash in the trend which was once pioneered by Land & Houses and later Supalai are now groups such as Pruska.

Recently the group launched a 248 unit project in Thalang which is now nearly sold out. While pricing points remain low in the segment THB1.5 to 4 million, volume is driving the strategy.

With a focus on the mass or low income market, margins and efficiency continue to focus on cost reductions and economies of scale to be able to retain profit levels.

Expect more of these type of projects to enter the supply stream of the coming few years.

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The Thai market - property and tourism - is key for Phuket's future. Unlikely to replace the international buyers/ visitors, but the Thai market will become significant. Are there historical figures for Thai tourists to Phuket available anywhere? Bill Barnett responds:
Yes source data on domestic tourists is available from the government.

Duncan, 18 Feb 2011 | 1:24 pm

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