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Posted: 13 Jul 2011 | 8:42 am
While most assume the peaceful election has been the trigger, in talking to a number of sources the property hunters are primarily motivated to move to greener pastures from the CBD given intense competition and escalating land prices.
Most acquistion pricing is ranging from THB3 - 5 million baht per rai with the focus on larger inland located parcels.
At the same time there is a resurgance of interest by overseas investors in development land mainly from Singapore and Hong Kong based groups. These tend to be driven to more prime locations.
We've seen planning for some smaller villa projects recently with 3-6 homes even on the upscale Natai beach region which are being driven by overseas investment.
During the global financial crises in 2007/2008 this was the hardest hit sector in Phuket property.
On the domestic front, a potential looming threat is a government mandated miniumum wage of THB300 baht. According to an article in today's Nation newspaper the Thai Contractors Association is quoted that building costs could escalate as much as 9-11% lead by labor costs and a resulting surge in building materials.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
While John Hardy and his Ubud Green School and Green Village have been at the groundswell of sustainable building materials, the area has sprouted other pioneering initiatives.
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
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