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Chic Bluepoint Oceanview Condos Relaunch

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Posted: 17 Nov 2010 | 6:00 am

As tourism numbers rewind back to the upbeat years of 2006/2007 and swing up, the property market is starting to see postponed projects relaunch as investor sentiment returns to the market.

South Patong's upscale Bluepoint condominium is re-entering the market as the developers are proceeding to the construction phase.

Designed by architect Paul Raff and marketed by Niche Real Estate, the offering of stylish one to three bedroom units with ocean views over Patong Bay looks to be one of the more interesting debuts of the season.

The South Patong headland is experiencing a surge of upper scale properties emerging with the recent announcement of a luxury internationally branded pool villa resort in the area and another mixed use property in planning stages.

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I would suggest that the correlation between tourist arrivals and property market activity is not a direct one (except maybe in time shares). For the mid and upper level property market, most buyers are repeat or long term Phuket visitors, not first time package/budget visitors. More likely that increased tourist arrivals affects overall market sentiment, buyer confidence, etc., rather than adding directly to the buyer supply chain. Banks reduced the rate of lending to new developments some time ago; projects moving forward now must do so with a higher percentage of investor/developer equity and less bank debt - arguably a positive factor both for consumer confidence and overall market stability.

Sg, 18 Nov 2010 | 3:22 pm

interesting how does all this go together with Banks apparently cutting credit to hotel and condo developments? Most of the increase in Phuket arrivals are lower end package tours from Scan, Russia and China. Hope this guys win the lottery so they can purchase the upmarket appartemnts.

rgds, wm

Wolfgang.Meusburger, 17 Nov 2010 | 2:13 pm

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